Longview Acquisition II, the second blank check company formed by executives at healthcare-focused hedge fund Glenview Capital, filed on Friday with the SEC to raise up to $500 million in an initial public offering.
The New York, NY-based company plans to raise $500 million by offering 50 million units at $10. Each unit consists of one share of common stock and one-fourth of a warrant, exercisable at $11.50. The company may also raise an additional $100 million pursuant to a forward purchase agreement with Glenview Capital Management. At the proposed deal size, Longview Acquisition II would command a market value of $625 million.
The SPAC is led by Chairman Larry Robbins, who is the founder and CEO of Glenview Capital Management, and CEO and Director John Rodin, who serves as a Partner and Co-President at Glenview. The group's previous SPAC, Longview Acquisition (LGVW; +85% from $10 offer price), raised $360 million in May 2020 and is pending a combination with digital health company Butterfly Network.
Longview Acquisition II intends to focus on industries that align with the background of the sponsor, such as healthcare, industrials, consumer, media, technology, and technology services, with a particular emphasis being placed on the healthcare sector.
Longview Acquisition II was founded in 2020 and plans to list on the NYSE under the symbol LGV.U. UBS Investment Bank and Cowen are the joint bookrunners on the deal.
