Brookline Capital Acquisition, a blank check company formed by Brookline Capital Markets targeting a life science business, filed on Friday with the SEC to raise up to $50 million in an initial public offering.
The New York, NY-based company plans to raise $50 million by offering 5 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed price, Brookline Capital Acquisition would command a market value of $64 million.
The company is led by CEO and Chairman Samuel Wertheimer, a Senior Scientific Advisor at Brookline Capital Markets, co-founder of financial services firm Poliwogg, and a former Private Equity Partner at OrbiMed Advisors; and President Scott Katzmann, who is a co-founder and Managing Partner of Brookline. The company plans to target business in the life science industry, specifically those that are growth-oriented and well situated to act as a standalone public company, and have a novel platform and prospective value creation.
Brookline Capital Acquisition was founded in 2020 and plans to list on the Nasdaq under the symbol BCACU. Brookline Capital Acquisition filed confidentially on July 17, 2020. Ladenburg Thalmann is the sole bookrunner on the deal.
The article Brookline’s SPAC Brookline Capital Acquisition files for a $50 million IPO originally appeared on IPO investment manager Renaissance Capital’s web site renaissancecapital.com.
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The information and opinions expressed herein were prepared by Renaissance Capital’s research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital’s Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.
Source: Nasdaq
