Helix Acquisition, a blank check company formed by Cormorant Asset Management, filed on Thursday with the SEC to raise up to $100 million in an initial public offering.
The Boston, MA-based company plans to raise $100 million by offering 10 million shares at $10. Unlike an ordinary SPAC, the company is not offering warrants that would become exercisable following completion of the initial business combination. At the proposed deal size, Helix Acquisition would command a market value of $129 million.
The company is led by CEO and Chairman Bihua Chen, Founder and managing member of healthcare investment firm Cormorant Asset Management, and CFO Jay Scollins, who joined Cormorant in 2013 as CFO and COO. The company intends to target businesses that complement the management team’s background, specifically focusing on the healthcare industry.
Helix Acquisition was founded in 2020 and plans to list on the Nasdaq under the symbol HLXA. Jefferies is the sole bookrunner on the deal.
