Launch One Acquisition, a blank check company targeting the healthcare sector, raised $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.
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; -98% from $10 offer price) and Locust Walk Acquisition (merged with EFTR; -99%). Gilbert's recent roles include serving as CEO of FTAC Olympus Acquisition (merged with PAYO; -47%) and an advisor to Phoenix Biotech Acquisition, Locust Walk Acquisition, and Newcourt Acquisition (merged with PBM; -97%).
Launch One Acquisition plans to list on the Nasdaq under the symbol LPAAU. Cantor Fitzgerald acted as sole bookrunner on the deal.
