Oppenheimer's SPAC OPY Acquisition I files for a $100 million IPO, targeting healthcare

OPY Acquisition I, a blank check company formed by Oppenheimer targeting healthcare, filed on Friday with the SEC to raise up to $100 million in an initial public offering.

The New York, NY-based company plans to raise $100 million by offering 10 million units at $10 per share. Each unit contains one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, the company would command a market value of $125 million. 

OPY Acquisition I is led by CEO and Chairman Jonathan Siegel, founder and CEO of JBS Healthcare Ventures, and CFO Daniel Geffken, co-founder and Managing Director of Danforth Advisors. The company plans to leverage management's life science experience to target healthcare companies with a primary focus on novel therapeutics, medical devices, or healthcare services. 

The company was founded in 2020 and plans to list on the Nasdaq under the symbol OPYAU.RC. OPY Acquisition I filed confidentially on July 22, 2021. Oppenheimer & Co., and Lake Street Capital Markets are the joint bookrunners on the deal. No pricing terms were disclosed.