EQ Health Acquisition, a blank check company formed by EQ Capital Strategies and FS Investments targeting healthcare services, raised $191 million by offering 19.1 million units at $10. The company offered 3.1 million more units than anticipated. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50.
The company is led by Executive Chairman Lewis Little Jr., the former CEO of Covenant Physician Partners and former co-founder and CEO of Harden Healthcare; CEO and CFO Scott Ellyson, founder and Principal of Clarity Performance Partners; COO Benjamin Hanson, founder and Managing Member of EQ Capital Strategies; and Vice Chairman Andrew Beckman, who currently serves as a Managing Director and Head of Liquid Credit and Special Situations at FS Investments. EQ Health Acquisition plans to target undervalued, growth-oriented businesses in the healthcare services industry with enterprise values between $600 million and $1.25 billion.
EQ Health Acquisition plans to list on the NYSE under the symbol EQHA.U. Jefferies and BTIG acted as lead managers on the deal.
