HighCape Capital Acquisition II, the second blank check company formed by HighCape Capital targeting life sciences, withdrew its plans for an initial public offering on Thursday. It had filed in March 2021 to raise $200 million by offering 20 million units at $10, with each unit containing one share of common stock and one-fourth of a warrant, exercisable at $11.50. Deerfield Management had intended to purchase 1 million units in the offering.
The company was set to be led by HighCape Capital co-founders CEO and Chairman Kevin Rakin and CFO, COO, and Director Matt Zuga, both of whom serve as Partners at the firm. HighCape Capital Acquisition II had planned to target the life sciences industry, including therapeutics, devices, diagnostics, medical information technology, and digital health companies.
The group's previous SPAC, HighCape Capital Acquisition, went public in September 2020 and completed its acquisition of proteomics platform Quantum-Si (QSI; -52% from offer price) in June 2021.
The New York, NY-based company was founded in 2021 and had planned to list on the Nasdaq under the symbol HCCRU. Cantor Fitzgerald was set to be the sole bookrunner on the deal.
