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SPAC Sports & Health Tech Acquisition files for a $150 million IPO

January 13, 2022

Sports & Health Tech Acquisition, a blank check company targeting the sports and health technology sectors, filed on Thursday with the SEC to raise up to $150 million in an initial public offering.

The Orlando, FL-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, Sports & Health Tech Acquisition would command a market value of $188 million.

The company is led by Chairman Jon Voigtman, the former Co-CEO of RBC (Barbados) Trading Bank; CEO Andrew White, whose current roles include serving as Chairman of sports and health technology investment firm leAD Sports; and CFO Christopher Hubman, the CFO of Tiger Woods' TGR Ventures. Pro golfer Tiger Woods, former pro tennis player Caroline Wozniacki, and former NBA player David Lee are also involved with the SPAC.

The company plans to target the sports and health technology sectors, focusing on fan engagement, consumer-facing health and fitness technologies, and health & wellbeing.

Sports & Health Tech Acquisition was founded in 2021 and plans to list on the Nasdaq under the symbol LDSPU. The company filed confidentially on December 10, 2021. RBC Capital Markets is the sole bookrunner on the deal.