Summit Healthcare Acquisitions Corp. (SMIHU) Prices $200M IPO


Summit Healthcare Acquisitions Corp. (SMIHU) Prices $200M IPO

Summit Healthcare Acquisition Corp. announced the pricing of its $200 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “SMIHU” Wednesday, June 9.

The new SPAC aims to combine with a target that has the ability to leverage the Chinese healthcare market with a value between $500 million to $1 billion. Summit Healthcare is led by  CEO Bo Tan, and President Ken Poon.

Total SPAC deal count for 2021 year-to-date is now 333. This offering is expected to close on Friday, June 11.

BofA Securities, Inc. is acting as the sole book-running manager of the offering. Kirkland & Ellis 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.