Healthcare SPAC VIDA FLaSH Acquisitions lowers deal size by 14% ahead of $150 million IPO

VIDA FLaSH Acquisitions, a blank check company targeting the US healthcare industry, lowered the proposed deal size for its upcoming IPO on Tuesday.

The Beverly Hills, CA-based company now plans to raise $150 million by offering 15 million units at $10. The company had previously filed to offer 17.5 million units at the same price. Each unit still consists of one share of common stock and one-fourth of a warrant, exercisable at $11.50. At the revised deal size, VIDA FLaSH Acquisitions will raise -14% less in proceeds than previously anticipated.

The company is led by Chairman Scott Huennekens, the Executive Chairman of Acutus Medical and Wondr Medical, and CEO and Director Frank Litvack, who has co-founded numerous healthcare companies and investment firms including Pura Vida Investments, Trialtech Medical, Advanced Interventional Systems, and Progressive Angioplasty Systems. VIDA FLaSH Acquisitions intends to target businesses primarily operating in the healthcare sector in the United States, with a specific focus on growth-stage medical technologies, diagnostics, digital health, and genomics companies.

VIDA FLaSH Acquisitions was founded in 2021 and plans to list on the Nasdaq under the symbol FLSHU. Goldman Sachs is the sole bookrunner on the deal.