Isleworth Healthcare Acquisition, a blank check company targeting healthcare innovation, raised $180 million by offering 18 million units at $10. The company offered 3 million more units than anticipated. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50.
The company is led by Chairman Allen Weiss, who has been a Partner at Apollo Capital Management since 2011 and previously served as President of World Wide Operations for Walt Disney Parks and Resorts. He is joined by CEO and Director Robert Whitehead, who previously co-founded and helmed Sprout Pharmaceuticals and Slate Pharmaceuticals, and CFO and Director Dan Halvorson, who previously served as CFO of Brain Corporation and Ingenu prior to that.
Isleworth Healthcare Acquisition intends to pursue prospective targets that are focused on healthcare innovation, with a particular focus on companies domiciled in North America, Europe, and Asia that are developing assets in the biopharmaceutical and, medical technology/medical device space, which aligns with the management team’s experience in operating healthcare companies and in drug and device/technology development.
Isleworth Healthcare Acquisition plans to list on the Nasdaq under the symbol ISLEU. I-Bankers Securities acted as a lead manager on the deal.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.