Sieger Healthcare Acquisition, a blank check company backed by Genius Link Group targeting healthcare, filed on Monday with the SEC to raise up to $75 million in an initial public offering.
The Singapore-based company plans to raise $75 million by offering 7.5 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50. Anchor investors intend to purchase $75 million worth of units in the offering (100% of the deal), and the company may raise an additional $15 million at the closing of an acquisition pursuant to forward purchase agreements with certain institutional investors. At the proposed deal size, Sieger Healthcare Acquisition would command a market value of $98 million.
The company is led by CEO and Chairman Frank Sun, former Executive Director and Vice Chairman of Shenzhen Hepalink Pharmaceutical Group (SHE: 002399). Joel Chang, the founder of specialized private equity advisory and investment firm Genius Link Group, serves as a Senior Advisor. The company plans to target the global healthcare sector, with a particular focus on the biotechnology and pharmaceutical sectors.
Sieger Healthcare Acquisition was founded in 2021 and plans to list on the Nasdaq under the symbol SIGQU. The company filed confidentially on July 1, 2021. Piper Sandler is the sole bookrunner on the deal.
