Aesther Healthcare Acquisition, a blank check company led by TRxADE Health executives targeting the pharma and medical device sectors, filed on Monday with the SEC to raise up to $100 million.
The New York, NY-based company plans to raise $100 million by offering 10 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, Aesther Healthcare Acquisition would command a market value of $125 million.
The company is led by CEO and Chairman Suren Ajjarapu, co-founder and CEO of TRxADE Health (MEDS), an online marketplace for pharmaceutical companies that completed its Nasdaq IPO in February 2020. The company plans to target the pharmaceutical and medical device sectors.
Aesther Healthcare Acquisition was founded in 2021 and plans to list on the Nasdaq, but has not selected a symbol yet (RC ticker: AEHAU.RC). EF Hutton is the sole bookrunner on the deal.
