Health Assurance said it intends to offer SAIL (Stakeholder Aligned Initial Listing) units to raise up to $500 million. Under the SAIL structure, initial stockholders will capture 20% to 30% of the year-of-year share-price performance (20% for first 30% performance, 30% thereafter) on all capital raised in connection with the transaction, including gross proceeds from the IPO and any subsequent capital raised in connection with the merger. The filing also sets out a table of redemption dates for warrants, as well as itemization of $2.5 million in anticipated expenses, an amended statement of incorporation and consent statements. Read more.
Health Assurance Amends $500M IPO Filing
