SCP & CO Healthcare Acquisition, a blank check company formed by SCP & CO targeting the healthcare industry, lowered the proposed deal size for its upcoming IPO on Wednesday.
The Tampa, FL-based company now plans to raise $175 million by offering 17.5 million units at $10. The company had previously filed to offer 20 million units at the same price. Each unit still consists of one share of common stock and one-half of a warrant, exercisable at $11.50. Two anchor investors have indicated interest in purchasing an aggregate of 19.8% of the offering. At the revised deal size, SCP & CO Healthcare Acquisition will raise -13% less in proceeds than previously anticipated.
The company is led by CEO and Director Scott Feuer and President and Director Bryan Crino, co-founders and Managing Directors of Skyway Group Private Equity, which was rebranded to SCP & CO. The company plans to target the healthcare technology or healthcare-related industries in the US and other developed countries.
SCP & CO Healthcare Acquisition was founded in 2020 and plans to list on the Nasdaq under the symbol SHACU. Barclays and Piper Sandler are the joint bookrunners on the deal.
