IPOs

SPAC Healthwell Acquisition I files for a $250 million IPO, targeting tech-enabled healthcare

Healthwell Acquisition I, a blank check company targeting technology-enabled healthcare businesses, filed on Tuesday with the SEC to raise up to $250 million in an initial public offering.

The Winnetka, IL-based company plans to raise $250 million by offering 25 million units at $10. Each unit consists of one share of common stock and one-sixth of a warrant, exercisable at $11.50. Certain anchor investors have indicated on 9.9% of units in the offering. The company may raise an additional $40 million at the closing of an acquisition pursuant to a forward purchase agreement with sponsor member Peterson Partners. At the proposed deal size, Healthwell Acquisition I would command a market value of $313 million.

The company is led by CEO and Director Alyssa Rapp, who is the CEO of Surgical Solutions and Managing Partner of AJR Ventures; Co-Chairman Curtis Feeny, who is a Senior Advisor to Peterson Partners; and Co-Chairman George Hornig, who is the Managing Member of George Horning LLC. The company plans to target technology-enabled businesses across the entire healthcare industry, focusing on those with enterprise values between $500 million and $1 billion.

Healthwell Acquisition I was founded in 2021 and plans to list on the Nasdaq under the symbol HWELU. Jefferies is the sole bookrunner on the deal.

The article SPAC Healthwell Acquisition I files for a $250 million IPO, targeting tech-enabled 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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