Healthcare SPAC Altamont Pharma Acquisition files for a $100 million IPO

Altamont Pharma Acquisition, a blank check company targeting the biopharma and medical technology sectors, filed on Tuesday with the SEC to raise up to $100 million in an initial public offering.

The Austin, TX-based company plans to raise $100 million by offering 10 million units at $10. Each unit consists of one share of common stock and one warrant to purchase one-half of a share, exercisable at $11.50. At the proposed deal size, Altamont Pharma Acquisition would command a market value of $125 million.

The company is sponsored by an affiliate of Altamont Pharmaceutical Holdings (Altamont Pharma) and JDH Investment Management, and is led by CEO and Chairman Mark Pearson, the founder and CEO of Altamont Pharma. JDH founder and Principal John Harkey Jr. will serve as a Director. The company plans to target businesses in North America or Europe that are developing assets in the biopharma and medical technology sectors?.

Altamont Pharma Acquisition was founded in 2021 and plans to list on the Nasdaq under the symbol ALTPU. The company filed confidentially on February 12, 2021. Chardan Capital Markets is the sole bookrunner on the deal.