Montes Archimedes Acquisition, a blank check company formed by Patient Square Capital targeting the healthcare industry, filed on Tuesday with the SEC to raise up to $500 million in an initial public offering.
The Menlo Park, CA-based company plans to raise $500 million by offering 50 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, Montes Archimedes Acquisition would command a market value of $625 million.
The company is led by CEO and Chairman James Momtazee, founder and Managing Partner of healthcare investment firm Patient Square Capital and former Head of the Heath Care Team at KKR. CFO Maria Walker is a Partner at Patient Square Capital and is the former co-founder and CEO of Alzheimer's biotech Recuerdo Therapeutics. The company plans to target the entire health care industry, including tech-enabled services, biopharmas, pharmaceutical value chain, medical devices, diagnostics, providers, digital health, and consumer health.
Montes Archimedes Acquisition was founded in 2020 and plans to list on the Nasdaq under the symbol MAACU. The SPAC filed confidentially on July 31, 2020. Citi and Jefferies are the joint bookrunners on the deal.
