Larkspur Health Acquisition, a blank check company focused on the US biotechnology sector, raised $75 million by offering 7.5 million units at $10. Each unit consists of one share of common stock and three-fourths of a warrant, exercisable at $11.50.
The company is led by CEO and Chairman Daniel O'Connor, the former CEO of immuno-oncology biotech OncoSec Medical (Nasdaq: ONCS), and CFO and Director David Briones, the founder and Managing Member of financial consulting firm Brio Financial Group. The company plans to target the biotechnology sector in the US, focusing on businesses with compelling risk/reward proposition, potential market leading product, and premier scientific and clinical leadership, among other characteristics.
Larkspur Health Acquisition plans to list on the Nasdaq under the symbol LSPRU. A.G.P. acted as sole bookrunner on the deal.
