The Los Angeles, CA-based company plans to raise $175 million by offering 17.5 million units at $10. Each unit will consist of one share of common stock and one-fourth of a warrant, exercisable at $11.50. At the proposed deal size, VIDA FLaSH Acquisitions will command a market value of $219 million.
The company is led by Chairman Scott Huennekens, who has been the Executive Chairman of Acutus Medical and Wondr Medical since 2019. He is joined by CEO and Director Frank Litvack, who has co-founded numerous healthcare companies and investment firms including Pura Vida Investments, Trialtech Medical, Advanced Interventional Systems, and Progressive Angioplasty Systems. VIDA FLaSH Acquisitions intends to target businesses primarily operating in the healthcare sector in the United States, with a specific focus on growth-stage medical technologies, diagnostics, digital health, and genomics companies.
Source: Renisannsace Capital – Healthcare SPAC VIDA FLaSH Acquisitions files for a $175 million IPO