Healthcare-focused SPAC VIDA FLaSH Acquisitions withdraws $150 million IPO

VIDA FLaSH Acquisitions, a blank check company targeting the US healthcare industry, withdrew its plans for an initial public offering on Monday. It had originally filed in February 2021 to raise $175 million, but lowered its deal size the following March to raise $150 million by offering 15 million units at $10, with each unit containing one share of common stock and one-fourth of a warrant, exercisable at $11.50.

The company was set to be led by Chairman Scott Huennekens, the Executive Chairman of Acutus Medical and Wondr Medical, and CEO and Director Frank Litvack, who has co-founded numerous healthcare companies and investment firms including Pura Vida Investments, Trialtech Medical, Advanced Interventional Systems, and Progressive Angioplasty Systems. VIDA FLaSH Acquisitions had intended to target businesses primarily operating in the healthcare sector in the United States, with a specific focus on growth-stage medical technologies, diagnostics, digital health, and genomics companies.

The Beverly Hills, CA-based company was founded in 2021 and had planned to list on the Nasdaq under the symbol FLSHU. Goldman Sachs was set to be the sole bookrunner on the deal.