MedTech Acquisition, a blank check company targeting a US medical technology business, raised $220 million by offering 22 million units at $10. The company offered 2 million more units than anticipated. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50.
The company is led by Chairman Karim Karti, who previously served as COO of iRhythm Technologies (IRTC); CEO and Director Christopher Dewey, who is currently a Managing Director at Ceros Financial Services and previously was a founding board member of MAKO Surgical; and CFO and Director David Matlin, who co-founded MatlinPatterson Global Advisers and currently serves as its CEO. MedTech Acquisition intends to complement the experience of its management team, primarily focusing on medical technology companies in the US healthcare sector.
MedTech Acquisition plans to list on the Nasdaq under the symbol MTACU. Raymond James acted as a lead manager on the deal.
