Foresight Acquisition II, a blank check company targeting tech-enabled consumer and consumer healthcare businesses, withdrew its plans for an initial public offering on Thursday.
It had originally filed in June 2021 to raise $250 million by offering 25 million units at $10, with each unit containing one share of common stock and one-third of a warrant. In October 2021, the SPAC revised the offering to 20 million units, with each containing one-half of a warrant.
The company was set to be led by Chairman Greg Wasson, the former CEO of Walgreens, where he served prior to founding his family investment office Wasson Enterprise. He was set to be joined by CEO and Director Michael Balkin, who was previously a Partner and Co-Manager of the William Blair Small Institutional Portfolio and the William Blair Small Cap Growth Fund, and CFO Gerald Muizelaar, who has served as VP of Finance for Wasson Enterprise since 2017.
Management's previous SPAC, Foresight Acquisition, went public in February 2021 and merged with P3 Health Partners (PIII; -51% from $10 offer price) in December 2021.
The Chicago, IL-based company was founded in 2021 and planned to list on the Nasdaq under the symbol FACQU. Cowen and William Blair were set to be the joint bookrunners on the deal.
