Longview Acquisition II, the second blank check company formed by executives at healthcare-focused hedge fund Glenview Capital, raised $600 million by offering 60 million units at $10. The company offered 10 million more units than anticipated. Each unit consists of one share of common stock and one-fifth of a warrant, exercisable at $11.50. Glenview Capital Management or affiliates had indicated on 5 million units in the offering, and have a forward purchase agreement with the company for up to $100 million.
The SPAC is led by Chairman Larry Robbins, the founder, Portfolio Manager, 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 completed its combination with digital health company Butterfly Network (BFLY; +79% from $10 offer price) last month.
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 plans to list on the NYSE under the symbol LGV.U. UBS Investment Bank and Cowen acted as lead managers on the deal.
