Launch One Acquisition, a blank check company targeting the healthcare sector, filed on Thursday with the SEC to raise up to $200 million in an initial public offering.
The Oakland, CA-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, Launch One Acquisition would command a market value of $250 million.
Launch One Acquisition is led by CEO and Director Chris Ehrlich, a former Senior Managing Director at life sciences-focused Locust Walk, and Chairman Ryan Gilbert, the founder and General Partner of financial services-focused venture firm Launchpad Capital. The company plans to target the healthcare or healthcare-related sectors, with a focus on life sciences.
Management has been involved with several past SPACs. Ehrlich previously served as the CEO of Phoenix Biotech Acquisition (merged with CERO; -96% from $10 offer price) and Locust Walk Acquisition (merged with EFTR; -86%). Gilbert's recent roles include serving as CEO of FTAC Olympus Acquisition (merged with PAYO; -45%) and an advisor to Phoenix Biotech Acquisition, Locust Walk Acquisition, and Newcourt Acquisition (merged with PBM; -94%).
Launch One Acquisition was founded in 2024 and plans to list on the Nasdaq under the symbol LPAAU. Launch One Acquisition filed confidentially on April 10, 2024. Cantor Fitzgerald is the sole bookrunner on the deal.
