H.I.G. Acquisition II, the second blank check company formed by H.I.G. Capital targeting TMT or healthcare, withdrew its plans for an initial public offering on Thursday. It had filed in March 2021 to raise $300 million by offering 30 million units at $10, with each unit containing one share of common stock and one-fourth of a warrant, exercisable at $11.50.
The company was set to be led by CEO and Director Brian Schwartz, Co-President of H.I.G. Capital, and President and Director Rob Wolfson, an Executive Managing Director and Head of the Advantage Fund and US Healthcare at H.I.G. Capital. H.I.G. Acquisition II had planned to target the technology, media, telecommunications, or healthcare sectors.
The Miami, FL-based company was founded in 2021 and had planned to list on the Nasdaq under the symbol HIGBU. Jefferies and UBS Investment Bank were set to be the joint bookrunners on the deal.
