SPAC Foresight Acquisition II files for a $250 million IPO, led by the former CEO of Walgreens

Foresight Acquisition II, a blank check company targeting tech-enabled consumer and consumer healthcare businesses, filed on Tuesday with the SEC to raise up to $250 million.

The Chicago, IL-based company plans to raise $250 million by offering 25 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50. At the proposed deal size, Foresight Acquisition II would command a market value of $320 million.

The company is led by Chairman Greg Wasson, the former CEO of Walgreens, where he served prior to founding his family investment office Wasson Enterprise. He is joined by CEO and Director Michael Balkin, who was previously a Partner and Co-Manager of the William Blair Small Institutional Portfolio and the William Blair Small Cap Growth Fund, and CFO Gerald Muizelaar, who has served as VP of Finance for Wasson Enterprise since 2017. Management's previous SPAC, Foresight Acquisition (FORE; -1% from $10 offer price), went public this past February and has a pending merger agreement with healthcare services provider P3 Health Partners.

Foresight Acquisition II intends to capitalize on the track record and experience of management and target the technology-enabled consumer and consumer healthcare industries, focusing on businesses with enterprise values greater than $1 billion.

Foresight Acquisition II was founded in 2021 and plans to list on the Nasdaq under the symbol FACQU. Cowen and William Blair are the joint bookrunners on the deal.