Healthcare AI Acquisition, a blank check company formed by Stanley Capital targeting the healthcare and pharma sectors, filed on Friday with the SEC to raise up to $200 million in an initial public offering.
The Cayman Islands-based company plans to raise $200 million by offering 20 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, Healthcare AI Acquisition would command a market value of $250 million.
The company is led by CEO and Chairman Simon Cottle and CFO and Director Patrick Hargutt, who are Founding Partners of Stanley Capital, an independent investment firm focused on healthcare, technology, and resource efficiency. The company plans to target businesses in the healthcare and pharmaceutical sectors with technological transformation potential.
Healthcare AI Acquisition was founded in 2021 and plans to list on the Nasdaq under the symbol HAIAU. The company filed confidentially on March 19, 2021. Citi and Jefferies are the joint bookrunners on the deal.
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