LAVA Medtech Acquisition, a blank check company targeting the medtech sector, filed on Friday with the SEC to raise up to $100 million in an initial public offering.
The Waltham, MA-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, LAVA Medtech Acquisition would command a market value of $125 million.
The company is led by CEO and Director Anthony Natale, a Managing Partner at Aperture Venture Partners, and Chairman Richard Emmitt, a Senior Partner of InnovaHealth Partners and a co-founder and General Partner of The Vertical Group. LAVA Medtech Acquisition plans to target innovative, development- or early commercial-stage companies focused on clinically-impactful and high growth opportunities within medical devices, diagnostics, and digital health (collectively, medtech).
LAVA Medtech Acquisition was founded in 2021 and plans to list on the Nasdaq under the symbol LVACU. The company filed confidentially on April 29, 2021. RBC Capital Markets is the sole bookrunner on the deal.
