SC Health SCPEU = 1C, 1/2W            

Edgar Filings

Warrants $1 Repurchase option ?????

NEW YORK--(BUSINESS WIRE)--SC Health Corporation (“SC Health”) announced today the pricing of its initial public offering and committed capital raise of up to $222.5 million in the aggregate, comprised of a $150 million initial public offering (up to $172.5 million if the Underwriters (defined below) exercise their over-allotment option in full), plus $50 million in committed capital to complete an initial business combination. The initial public offering of 15,000,000 units priced at $10.00 per unit. SC Health has granted the Underwriters a 45-day option to purchase up to 2,250,000 additional units at the initial public offering price to cover over-allotments, if any. The units will be listed on the New York Stock Exchange (“NYSE”) in the United States and trade under the ticker symbol “SCPE.U” beginning July 12, 2019. Each unit consists of one Class A ordinary share and one-half of one redeemable warrant, with each warrant entitling the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on the NYSE under the symbols “SCPE” and “SCPE WS,” respectively. The initial public offering is expected to close on July 16, 2019, subject to customary closing conditions.

Credit Suisse Securities (USA) LLC is acting as sole book running manager in the offering and I-Bankers Securities, Inc. is acting as co-manager (together, the “Underwriters”).

SC Health Group Limited has agreed to provide $50 million in the form of committed capital in a private placement to occur concurrently with SC Health’s initial business combination. SC Health intends to use the net proceeds of the initial public offering and forward purchase agreement for an initial business combination with a target with operations or prospects in the healthcare sector in the Asia Pacific region, which may be a platform in the Asia Pacific region or a global platform with a meaningful Asia Pacific growth thesis and to cover operating expenses and working capital requirements.