NEW YORK, Nov. 18, 2020 /PRNewswire/ -- Population Health Investment Co., Inc. (Nasdaq: PHICU, the "Company") announced today the pricing of its initial public offering of 15,000,000 units at a price of $10.00 per unit. The units will be listed on The Nasdaq Capital Market ("Nasdaq") and trade under the ticker symbol "PHICU" beginning on November 18, 2020. Each unit consists of one Class A ordinary share and one-third of one redeemable warrant, with each whole warrant exercisable to purchase one Class A ordinary share at $11.50 per share. After the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on Nasdaq under the symbols "PHIC" and "PHICW," respectively. The offering is expected to close on November 20, 2020, subject to customary closing conditions.
Population Health Investment Co., Inc. is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue an initial business combination in any industry, sector, or geographic region, it intends to focus on companies or divisions of companies in the healthcare industry, and in particular the therapeutics sector, in the United States and other developed countries. The Company was founded by Dr. Clive Meanwell and Ian Read.
J.P. Morgan Securities LLC is acting as the sole book running manager of the offering. The Company has granted the underwriter a 45-day option to purchase up to an additional 2,250,000 units at the initial offering price to cover over-allotments, if any.