Aimei Health Technology, a blank check company targeting small-cap healthcare businesses, filed on Friday with the SEC to raise up to $50 million in an initial public offering.
The New York, NY-based company plans to raise $50 million by offering 5 million units at $10. Each unit consists of one share of common stock, one right to receive one-tenth of a share upon the completion of an initial business combination, and one warrant to purchase three-fourths of a share, exercisable at $11.50. At the proposed deal size, Aimei Health Technology would command a market value of $66 million.
The company is led by CEO and Director Juan Fernandez, who currently serves as COO of SPAC Genesis Unicorn Capital (GENQ; pending with ESGL Holdings) and previously served as General Manager of Chassis Brakes International Spain. He is joined by CFO and Director Heung Ming Wong, the former CFO of publicly-traded companies Meten EdtechX (now Meten Holding Group) and Frontier Services Group.
The SPAC plans to target small-cap companies in North America, Europe, and the Asia Pacific regions that are developing assets in the biopharmaceutical, medical technology/medical device, and diagnostics spaces. It does not plan to target businesses in China (incl. Hong Kong and Macau).
Aimei Health Technology was founded in 2023 and plans to list on the Nasdaq under the symbol AFJKU. Spartan Capital Securities is the sole bookrunner on the deal.
