IPOs

SPAC Cactus Acquisition 1 files for a $100 million IPO, targeting tech-based healthcare

Cactus Acquisition 1, a blank check company targeting tech-based healthcare businesses in or connected to Israel, filed on Tuesday with the SEC to raise up to $100 million.

The Cranbury, NJ-based company plans to raise $100 million by offering 10 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50. At the proposed deal size, Cactus Acquisition 1 would command a market value of $125 million.

The company is led by CEO and Director Ofer Gonen, the CEO of life science investment firm Clal Biotechnology Industries (TASE: CBI), and Chairman Nachum Shamir, the CEO of Luminex (Nasdaq: LMNX). The company plans to target technology-based healthcare businesses that are domiciled in Israel, that carry out all or a substantial portion of their activities in Israel, or that have some other significant Israeli connection.

Cactus Acquisition 1 was founded in 2021 and plans to list on the Nasdaq under the symbol CCTSU. The company filed confidentially on June 15, 2021. Oppenheimer & Co. and Moelis & Company are the joint bookrunners on the deal.

The article SPAC Cactus Acquisition 1 files for a $100 million IPO, targeting tech-based healthcare 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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