Deep Medicine Acquisition Corp. (DMAQU) Prices Upsized $110M IPO


Deep Medicine Acquisition Corp. (DMAQU) Prices Upsized $110M IPO

Oct 26, 2021 IPOs by Marlena Haddad

Deep Medicine Acquisition Corp. announced the pricing of its upsized $110 million IPO and its shares are expected to begin trading on the Nasdaq under the symbol “DMAQU” Wednesday, October 27.

The new SPAC intends to focus its search on targets in the healthcare industry with an enterprise value of approximately $500 million to $1 billion. Deep Medicine is led by CEO and Chairman of the Board Humphrey P. Polanen and CFO Weixuan Luo.

Total SPAC deal count for 2021 year-to-date is now 492. This offering is expected to close on Friday, October 29.

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