Edoc Acquisition Corp. (ADOCU) Prices $90M IPO


Edoc Acquisition Corp. (ADOCU) Prices $90M IPO

Edoc Acquisition Corp. announced the pricing of its $90 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “ADOCU” Tuesday, November 10.

The new company aims to combine with a healthcare target valued at $300 million to $1 billion – ideally a private clinic chain, big data analytics provider or telemedicine operation. Edoc is led by Chairman and CEO Kevin Chen alongside CFO and Director Christine Zhao.

Total SPAC deal count for 2020 year-to-date is now 172 with $63.1 billion in gross proceeds raised. This offering is expected to close on Friday, November 13.

I-Bankers Securities, Inc. is acting as the sole book-running manager for the offering. Ellenoff Grossman & Schole LLP is serving as Issuer’s Counsel with Schiff Hardin LLP serving as Underwriter’s Counsel. Marcum LLP serves as auditor. Continental Stock Transfer & Trust Company LLC is acting as trustee.