Hudson Executive Investment II, the second blank company formed by Hudson Executive Capital targeting high-growth industries, raised $225 million by offering 22.5 million units at $10. The company offered 2.5 million more units than anticipated. Each unit consists of one share of common stock and one-fourth of a warrant, exercisable at $11.50. The company may raise an additional $50 million at the closing of an acquisition pursuant to a forward purchase agreement with its sponsor.
The SPAC is led by President and Chairman Douglas Braunstein, the founder and Managing Partner of Hudson Executive Capital, who previously served as CFO of J.P. Morgan. He is joined by CEO and Director Douglas Bergeron, a Managing Partner at Hudson who previously was CEO of Verifone.
The team took public its first SPAC, Hudson Executive Investment (HECC; +28% from $10 offer price), which raised $360 million in June 2020 and recently announced a combination with digital and virtual behavioral healthcare company Talkspace. While Hudson Executive Investment II will also evaluate those two industries, it intends to pursue any company desirable growth-oriented characteristics, high barriers to entry, and sustainable competitive advantages.
Hudson Executive Investment II plans to list on the Nasdaq under the symbol HCIIU. Citi, J.P. Morgan and Barclays acted as lead managers on the deal.
