Avista Public Acquisition II registered with the SEC to offer 20 million units atr $10 each. A unit consists of one Class A ordinary share and one-third of one redeemable warrant. Whole warrants will be exercisable at $11.50 for a share.
Credit Suisse is sole book-running manager for the offering. The underwriters have a 45-day option to purchase up to 3 million additional units to cover over-allotments, if any.
Avista plans to target the healthcare sector. Members of the management team work for Avista Capital Partners, a New York-based middle market private equity firm focused on control buyout and growth investments in the healthcare sector.
The new SPAC is led by Executive Chairman Thompson Dead, who co-founded Avista Capital Partners in 2005. Prior to that, Dean led DLJMB for 10 years, serving as managing partner of DLJMB I, II and III and DLJ Growth Capital Partners, and was chairman of their investment committees.
The SPAC intends to apply for a listing on the Nasdaq under AHPAU. Read more.
