BCLS Acquisition, a blank check company formed by Bain Capital targeting the healthcare industry, filed on Friday with the SEC to raise up to $125 million in an initial public offering.
The Boston, MA-based company plans to raise $125 million by offering 12.5 million shares at $10. The SPAC is not offering warrants that would become exercisable following completion of the initial business combination. It may raise an additional $25 million at the closing of an acquisition pursuant to a forward purchase agreement with its sponsor. At the proposed deal size, BCLS Acquisition would command a market value of $161 million.
The company is led by co-founders and Managing Directors of Bain Capital, Chairman Adam Koppel and CEO and Director Jeffrey Schwartz. The company plans to target the healthcare industry, particularly businesses based primarily based in North America and Europe in the biopharmaceutical, specialty pharmaceutical, medical device, diagnostics,