Avista Public Acquisition II, a blank check company formed by Avista Capital Partners targeting the healthcare sector, filed on Thursday with the SEC to raise up to $200 million in an initial public offering.
The New York, NY-based company plans to raise $200 million by offering 20 million units at $10 per unit. Each unit contains one share of common stock and one-third of a warrant, exercisable at $11.50. At the proposed deal size, Avista Public Acquisition II would command a market value of $250 million.
The company is led by Executive Chairman Thompson Dean and CEO and Director David Burgstahler, both of whom are Managing Partners and Co-CEOs of healthcare private equity firm Avista Capital Partners. Management's previous SPAC, Avista Healthcare Public Acquisition, completed its business combination with Organogenesis (Nasdaq: ORGO; +68% from $10 offer price) in 2018.
Avista Public Acquisition II aims to leverage management's experience and network connections to target businesses in a variety of healthcare subsectors, including pharmaceuticals, medical devices, healthcare technology, healthcare distribution, and consumer healthcare.
The company was founded in 2021 and plans to list on the Nasdaq under the symbol AHPAU. Credit Suisse is the sole bookrunner on the deal.
