Lux Health Tech Acquisition, a blank check company formed by Lux Capital targeting a healthtech business, raised $300 million by offering 30 million units at $10, as expected.
Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50. Lux Capital has agreed to buy $15 million worth of units from the company at the time of a business combination pursuant to a forward purchase agreement.
The company is led by Chairman Peter Hébert, co-founder and Managing Partner of Lux Capital, and CEO and Director Josh DeFonzo, whose previous roles include President of Johnson & Johnson's Robotics & Digital Solutions and COO of Auris Health (acquired by J&J for up to $5.75B).
The SPAC plans to target businesses at the intersection of the healthcare and technology industries.
Lux Health Tech Acquisition plans to list on the Nasdaq under the symbol LUXAU. Credit Suisse acted as sole bookrunner on the deal.
