Sparta Healthcare Acquisition registered with the SEC to offer 10 million units at $10 each. A unit consists of one share of Class A common stock and one-half of one redeemable warrant, with whole warrants exercisable at $11.50.
The SPAC plans to focus on early-to-mid stage companies in the biotech and therapeutics sector of the healthcare industry in North America, particularly companies in the life sciences and pharmaceutical sectors where the Sparta management team has extensive experience.
Sparta is led by CEO and President Michael Handley, who is CEO and director of Cytocom. Previously, Handley was CEO and director of Immune Therapeutics.
Kingswood Capital Markets is sole bookrunner on the offering. The underwriters have a 45-day option to purchase up to an additional 1.5 million units to cover any over-allotments.
The SPAC has applied to list on the Nasdaq under SPTAU. Read more.
