Priveterra Acquisition Corp. (PMGMU) Prices Upsized $240M IPO


Priveterra Acquisition Corp. (PMGMU) Prices Upsized $240M IPO

Priveterra Acquisition Corp. announced the pricing of its upsized $240 million IPO this evening and its units are expected to begin trading on the Nasdaq under the symbol “PMGMU” Tuesday, February 9.

The new company aims to combine with a medical technology business that has products with a clear path for commercialization. Priveterra is led by Chairman and CEO Robert Palmisano, President Vikram Malik, COO and CFO Oleg Grodnensky and Chief Legal Officer and Secretary David Meredith.

Total SPAC deal count for 2021 year-to-date is now 121 with $35.9 billion in gross proceeds raised. This offering is expected to close on Thursday, February 11.

Wells Fargo Securities LLC and Guggenheim Securities LLC are acting as book-running managers for the offering with Odeon Capital Group serving as co-manager. White & Case LLP is serving as Issuer’s Counsel with Davis Polk & Wardwell LLP serving as Underwriter’s Counsel. WithumSmith+Brown, PC serves as auditor. Continental Stock Transfer & Trust Company is acting as trustee.