BCLS Acquisition, a blank check company formed by Bain Capital Life Sciences targeting the healthcare industry, raised $125 million by offering 12.5 million shares at $10. The SPAC did not offer warrants that would become exercisable following completion of the initial business combination. It may raise an additional $25 million at the closing of an acquisition pursuant to a forward purchase agreement with its sponsor.
The company is led by co-founders and Managing Directors of Bain Capital Life Sciences, Chairman Adam Koppel and CEO and Director Jeffrey Schwartz. The company plans to target the healthcare industry, particularly businesses primarily based in North America and Europe in the biopharmaceutical, specialty pharmaceutical, medical device, diagnostics, and enabling life science technology fields.
BCLS Acquisition plans to list on the Nasdaq under the symbol BLSA. Goldman Sachs and Jefferies acted as joint bookrunners on the deal.
