Avista Public Acquisition II, a blank check company formed by Avista Capital Partners targeting the healthcare sector, raised $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50.
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, went public in 2016 and completed its combination with Organogenesis (ORGO; +48% 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.
Avista Public Acquisition II plans to list on the Nasdaq under the symbol AHPAU. Credit Suisse acted as sole bookrunner on the deal.
