Locust Walk Acquisition, a blank check company formed by Locust Walk Partners targeting the healthcare sector, raised $153 million by offering 15.3 million units at $10. The company offered 2.3 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 CEO and Director Chris Ehrlich, Senior Managing Director and Head of the Global Biopharma team at global life science transaction firm Locust Walk Partners, and CFO Daniel Geffken, the founder and Managing Director of Danforth Advisors. The company plans to target the healthcare or healthcare related industries in the US and Europe, prioritizing businesses in the life sciences sector.
Locust Walk Acquisition plans to list on the Nasdaq under the symbol LWACU. Cantor Fitzgerald acted as a lead manager on the deal.
