Renaissance Capital logo

Health and wellness SPAC PepperLime Health Acquisition files for a $150 million IPO

September 28, 2021

PepperLime Health Acquisition, a blank check company targeting businesses combining tech and consumer health and wellness, filed on Tuesday with the SEC to raise up to $150 million in an initial public offering.

The San Francisco, CA-based company plans to raise $150 million by offering 15 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, PepperLime Health Acquisition would command a market value of $188 million.

The company is led by CEO and Chairman Ramzi Haidamus, who previously served as the CEO of Immersion Corporation (Nasdaq: IMMR) and the President of Nokia Technologies. The company plans to target businesses at the intersection of technology and consumer health and wellness, including broad verticals that help consumers pursue "whole person health," such as physical health, behavioral and mental health, sexual wellness, women's health, and sleep related health.

PepperLime Health Acquisition was founded in 2021 and plans to list on the Nasdaq under the symbol PEPLU. Oppenheimer & Co. is the sole bookrunner on the deal.