MedTech Acquisition Corporation Announces Closing of Upsized $250M IPO
MedTech Acquisition Corporation (the “Company”) announced today that it closed its initial public offering of 25,000,000 units, which included 3,000,000 units pursuant to the partial exercise of the underwriters’ over-allotment option. The offering was priced at $10.00 per unit, resulting in gross proceeds of $250,000,000.
The Company’s units are listed on the Nasdaq Capital Market (“Nasdaq”) and commenced trading under the ticker symbol “MTACU” on December 18, 2020. Each unit consists of one share of the Company’s Class A common stock and one-third of one redeemable warrant, each whole warrant entitling the holder thereof to purchase one share of Class A common stock at a price of $11.50 per share. Only whole warrants are exercisable and will trade. Once the securities comprising the units begin separate trading, shares of the Class A common stock and warrants are expected to be listed on Nasdaq under the symbols “MTAC” and “MTACW,” respectively.
The Company is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue an initial business combination target in any business or industry, it intends to focus its search on businesses primarily operating in the medical technology sector in the United States. The Company is led by Chairman Karim Karti, Chief Executive Officer Christopher C. Dewey, Chief Financial Officer David J. Matlin, and Chief Administrative Officer Robert H. Weiss. In addition to Messrs. Karti, Dewey, and Matlin, the Company’s Board of Directors includes Maurice R. Ferré, Martin W. Roche, and Ivan Delevic. The Company’s special advisor is Michael Stansky.
Raymond James & Associates, Inc. acted as the sole book running manager for the offering.