⁍ A blank-check firm backed by General Catalyst is looking to raise up to $500 million in its initial public offering.
⁍ The company also said it aims to partner with technology-driven healthcare businesses.
– A blank-check firm backed by General Catalyst is looking to raise up to $500 million in its initial public offering, Reuters reports. Health Assurance Acquisition Corp is aiming to sell 50 million SAIL, or Stakeholder Aligned Initial Listing, securities at $10 apiece, a regulatory filing showed on Monday. A blank-check firm, or a special purpose acquisition company, is a shell company that uses capital raised from an IPO to buy another company, typically within two years. The deal then takes the private company public. The company also said it aims to partner with technology-driven healthcare businesses. Home rental startup Airbnb Inc, messaging app Snap Inc, SNAP.N, and dietary supplement maker Elysium Health Inc also count General Catalyst among their backers. Ribbit Capital is another venture capital firm which has recently launched a SPAC Morgan Stanley is the underwriter for Health Assurance’s offering.
Source: https://www.reuters.com/article/us-health-assurance-acquisition-ipo/general-catalyst-backed-blank-check-firm-looks-to-raise-up-to-500-million-in-ipo-idUSKBN27B24J