Healthcare SPAC Montes Archimedes Acquisition documents for 500M IPO

A blank check company made by Patient Square Capital, Montes Archimedes Acquisition (NASDAQ: MAACU at https://www.webull.com/quote/nasdaq-maacu ) to raise to $500M by offering 50M units at $10/unit.

The business intends to target the whole healthcare business, for example, tech-enabled services, biopharma, and pharmaceutical value series, medical instruments, diagnosticshealth care solutions, electronic health, and consumer health.

As stated by the Center for Medicare and Medicaid Services, overall U.S. national health cost was estimated to surpass 3.5T 2019, and complete healthcare spending is estimated to rise at a 5.5percent CAGR during 2027, coming approximately 20 percent of overall U.S. Gross Domestic Product. This pace of growth is estimated to continue through time in the future, driven by positive trends including an aging population, greater incidence of chronic illness, and enhanced accessibility to medical care.

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Patient Square Capital’s health care SPAC Montes Archimedes Acquisition documents to get a 500 million IPO

Montes Archimedes Acquisition, a sterile check Company made by Patient Square Capital targeting the healthcare business, registered on Tuesday with the SEC to improve upto $500 million at an initial public offering.

Patient Square Capital LP has decided to buy 12M warrants (or even 13.5M warrants when the underwriters’ over-allotment option is exercised in full), each exercisable to purchase one share of Class A common stock at $11.50/talk, at a high cost of $1/warrant at a private arrangement.

The Menlo Park, CA-based company intends to raise $500 million by offering 50 million units in $10. At the planned bargain dimensions, Montes Archimedes Acquisition would command a market worth of about $625 million.

The Firm is directed by CEO and Chairman James Momtazee, founder and Managing Partner of health care investment company Patient Square Capital and former Head of the Health Care Team in KKR. CFO Maria Walker is Somebody in Patient Square Capital and will be the prior Cofounder and CEO of Alzheimer’s Biotech Recuerdo Therapeutics. The business intends to target the whole healthcare business, for example, tech-enabled services, biopharma, and pharmaceutical value series, medical instruments, diagnostichealthcare solutions, electronic health, and consumer health.

Montes Archimedes Acquisition was set in 2020 and intends to list on the Nasdaq under the symbol NASDAQ: MAACU. The SPAC filed confidentially on July 3 1, 2020. Citi and Jefferies would be the joint bookrunners on this offer.

The post Patient Square Capital’s Health-care SPAC Montes Archimedes Acquisition records to get a 500 million IPO originally appeared on IPO investment director Renaissance Capital’s site.

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