Montes Archimedes Acquisition, a blank check company formed by Patient Square Capital targeting the healthcare industry, raised $400 million by offering 40 million units at $10. The company offered 10 million fewer units than anticipated. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50.
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 plans to list on the Nasdaq under the symbol MAACU. Citi and Jefferies acted as joint bookrunners on the deal.
