Chardan NexTech Acquisition, a blank check company formed by Chardan targeting disruptive healthtech and fintech, filed on Friday with the SEC to raise up to $200 million in an initial public offering.
The New York, NY-based company plans to raise $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50. At the proposed deal size, Chardan NexTech Acquisition would command a market value of $250 million.
The company is led by Chairman Kerry Propper, co-founder and Chairman Chardan, and co-founder and managing partner of ATW Partners; and CEO and Director Jonas Grossman, managing partner and head of capital markets for Chardan. The company plans to target disruptive technology businesses that operate within the healthtech and fintech sectors.
Chardan NexTech Acquisition was founded in 2020 and plans to list on the Nasdaq under the symbol CNAQU. The company filed confidentially on February 5, 2021. Chardan Capital Markets is the sole bookrunner on the deal.
