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Healthcare IPO For The Week Ahead

biotechipo jun14 lt

The IPO activity in the U.S. healthcare sector has had a strong showing, with 12 listings in October and has been somewhat tepid with around 5 listings in the first half of November.

Now, let's take a look at the U.S. healthcare IPO schedule for the week ahead.

1. Amplitude Healthcare Acquisition

Amplitude Healthcare Acquisition is a blank check company founded by two investment firms - Metalmark Capital and Avego Healthcare Capital - with a focus on the healthcare industry in the United States and Europe.

Founded in 2019, the company has planned to list its IPO on the Nasdaq Global Select Market, under the symbol "AMHCU", on November 20, 2019.

Amplitude Healthcare Acquisition has offered to sell 10 million units, and granted the underwriters an option for 45 days to purchase up to 1.5 million units to cover over-allotments.

Each unit has an offering price of $10.00 and consists of one share of Class A common stock and one-half of one redeemable warrant exercisable at $11.50.

The warrants will become exercisable on the later of 30 days after the completion of initial business combination or 12 months from the closing of this offering, and will expire five years after the completion of initial business combination or earlier upon redemption or liquidation.

Underwriters of the IPO:

BMO Capital Markets Corp., SVB Leerink LLC


Amplitude Healthcare Acquisition is formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses.

The company plans to pursue an acquisition opportunity in any business and intend to prioritize companies in the life sciences and pharmaceutical services sectors where the management team has extensive experience.

The company's efforts have so far been limited to organizational activities and it has not selected any specific business combination target. Therefore, the company has not generated any operating revenues.

Howard Hoffen is the Founder, Chairman and Chief Executive Officer of Metalmark, one of Amplitude's Sponsors, and is also the former Chairman and Chief Executive Officer of Morgan Stanley Capital Partners (MSCP).

Bala Venkataraman is a founding Partner of Avego, the other Sponsor of Amplitude. He also co-founded Vidara Therapeutics, as well as Alaven Pharmaceutical.

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