Priveterra Acquisition, a blank check company targeting the medical technology sector, raised $240 million by offering 24 million units at $10. The company offered 4 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 Chairman Robert Palmisano, who previously served as CEO of Wright Medical Group until it was acquired by Stryker in 2020, and also served as CEO of ev3 until it was acquired by Covidien. The company plans to target the medical technology sector.
Priveterra Acquisition plans to list on the Nasdaq under the symbol PMGMU. Wells Fargo Securities and Guggenheim Securities acted as lead managers on the deal.
