Future Health ESG Corp., a blank check company targeting businesses that support value-based precision healthcare, raised $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. Certain anchor investors had indicated on $195 million worth of units in the offering (97% of the deal).
The company is led by CEO and Chairman Bradley Bostic, the founder and CEO of healthcare software company hc1.com and Managing Director of Health Cloud Capital Fund I, and CFO and Director Travis Morgan, who serves as Managing Director and CFO of Health Cloud Capital Fund I and Managing Director of Caravel Ventures. Bostic also previously co-founded SPAC Novus Capital, which completed its combination with AppHarvest (APPH) in February 2021.
The company plans to target opportunities that are at the forefront of smart health technology and are enabling innovative solutions that support the transformation to value-based, precision healthcare. Specifically, it plans to pursue scale-up stage operating companies that leverage modern data science to make healthcare more effective, personalized, and cost efficient, considering target businesses that align with its environmental, social, and governance criteria.
Future Health ESG Corp. plans to list on the Nasdaq under the symbol FHLTU. Cantor Fitzgerald acted as sole bookrunner on the deal.
