IPOs

Lux Capital's SPAC Lux Health Tech Acquisition prices $300 million IPO at $10

Lux Health Tech Acquisition, a blank check company formed by Lux Capital targeting a healthtech business, raised $300 million by offering 30 million units at $10, as expected.

Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50. Lux Capital has agreed to buy $15 million worth of units from the company at the time of a business combination pursuant to a forward purchase agreement.

The company is led by Chairman Peter Hébert, co-founder and Managing Partner of Lux Capital, and CEO and Director Josh DeFonzo, whose previous roles include President of Johnson & Johnson's Robotics & Digital Solutions and COO of Auris Health (acquired by J&J for up to $5.75B).

The SPAC plans to target businesses at the intersection of the healthcare and technology industries.

Lux Health Tech Acquisition plans to list on the Nasdaq under the symbol LUXAU. Credit Suisse acted as sole bookrunner on the deal.

The article Lux Capital's SPAC Lux Health Tech Acquisition prices $300 million IPO at $10 originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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