IPOs

RTW Investments' SPAC Health Sciences Acquisitions 2 prices upsized $139 million IPO at $10

Health Sciences Acquisitions 2, the second blank check company formed by RTW Investments to acquire a biopharma or medtech business, raised $139 million by offering 13.9 million shares at $10. The company offered 1.4 million more shares than anticipated. The company may also raise $25 million from its sponsor in connection with a proposed acquisition. Unlike an ordinary SPAC, the company did not offer units with warrants attached.

The company is led by CEO and Chairman Roderick Wong, the founder, Managing Partner, and CIO of RTW Investments; and CFO and Director Naveen Yalamanchi, who currently serves as a Partner and Portfolio Manager at RTW. The pair previously served in the same roles for Health Sciences Acquisitions, which raised $100 million in May 2019 and merged with clinical stage biopharma Immunovant Sciences (IMVT; +134% from $10 offer price) the following December.

Health Sciences Acquisitions 2 plans to list on the Nasdaq under the symbol HSAQ. Chardan Capital Markets and Barclays acted as lead managers on the deal.

The article RTW Investments' SPAC Health Sciences Acquisitions 2 prices upsized $139 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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