First Digital Health Acquisition, a blank check company targeting healthcare technology, filed on Friday with the SEC to raise up to $175 million in an initial public offering.
The company plans to raise $175 million by offering 17.5 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, First Digital Health Acquisition would command a market value of $219 million.
First Digital Health Acquisition is led by Chairman Charles Martin, the founder and Chairman of Martin Ventures; Co-CEO and Director Justin Dearborn, the CEO of PatientBond; and Co-CEO and Director Jonathan Phillips, Managing Director and Head of Private Equity for FTCP. The company seeks to leverage management's experience and target the healthcare industry, specifically in the healthcare technology, healthcare technology-enabled services, or digital health subsectors.
The Nashville, TN-based company was founded in 2021 and plans to list on the NYSE under the symbol FDHAU. First Digital Health Acquisition filed confidentially on June 22, 2021. William Blair is the sole bookrunner on the deal.
