Population Health Investment, a blank check company targeting a therapeutics business, filed on Friday with the SEC to raise up to $150 million in an initial public offering.
The New York, NY-based company plans to raise $150 million by offering 15 million units at a price of $10. Each unit will consist of one share of common stock and 1/3 of a warrant, exercisable at $11.50. At the proposed deal size, Population Health Investment would command a market value of $188 million.
The company is led by CEO Clive Meanwell, who is a Founding Partner of Population Health Partners and founded The Medicines Company in 1996. He is joined by Executive Chairman Ian Read, who previously served as CEO of Pfizer from 2010 to 2019, and CFO Chris Visioli, the former CFO of The Medicines Company. Population Health Investment intends to capitalize on the experience of its founders and management in order to target the healthcare therapeutics sector in the United States and other developed countries.
Population Health Investment was founded in 2020 and plans to list on the Nasdaq under the symbol PHICU. Population Health Investment filed confidentially on September 24, 2020. J.P. Morgan is the sole bookrunner on the deal.
