Hudson Executive Investment, a blank company formed by Hudson Executive Capital targeting fintech or healthcare, raised $360 million by offering 36 million shares at $10. The company originally filed to offer 30 million units. Units consist of one share of common stock and one half of a warrant exercisable at $11.50.
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The SPAC entered into a forward purchase agreement with sponsor Hudson Executive Capital (HEC); the firm plans to buy $50 million worth of units upon the closing of an acquisition.
The SPAC is led by CEO Douglas Bergeron, a Managing Partner of HEC and former CEO of Verifone, and Chairman Douglas Braunstein, founder and Managing Partner of HEC and former CFO of J.P. Morgan.
Sponsor HEC, which was founded in 2015, is described as a value-oriented, event-driven investment firm with a focus on undervalued domestic small and mid-cap public companies in the financial services and healthcare sectors. HEC distinguishes itself with a "CEO Network" of more than 30 current and former public company CEOs and other senior executives.
Hudson Executive Investment plans to list on the Nasdaq under the symbol HECCU. Citi and J.P. Morgan acted as lead managers on the deal.
