Brookline Capital Acquisition, a blank check company formed by Brookline Capital Markets targeting a life science business, raised $50 million by offering 5 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50.
The company is led by CEO and Chairman Samuel Wertheimer, a Senior Scientific Advisor at Brookline Capital Markets, co-founder of financial services firm Poliwogg, and a former Private Equity Partner at OrbiMed Advisors; and President and Director Scott Katzmann, who is a co-founder and Managing Partner of Brookline. The company plans to target business in the life science industry, specifically those that are growth-oriented and well situated to act as a standalone public company, and have a novel platform and prospective value creation.
Brookline Capital Acquisition plans to list on the Nasdaq under the symbol BCACU. Ladenburg Thalmann acted as a lead manager on the deal.
