Health Assurance Acquisition Corp. (HAACU) Prices $500M IPO

Health Assurance Acquisition Corp. announced the pricing of its $500 million IPO this evening and its units are expected to begin trading on the Nasdaq under the symbol “HAACU” tomorrow, Friday, November 13.

The new company aims to combine with a tech-enabled healthcare target offering virtual services that increase access and have new economic models for managing risk. Health Assurance is led by Chairman and CEO Hemant Taneja alongside COO Evan Sotiriou.

Total SPAC deal count for 2020 year-to-date is now 177 with $64.5 billion in gross proceeds raised. This offering is expected to close on Tuesday, November 17.

Morgan Stanley is acting as lead bookrunning manager for the offering. AmeriVet Securities is acting as co-manager for the offering. Kirkland & Ellis LLP is serving as Issuer’s Counsel with Skadden, Arps, Slate, Meagher & Flom LLP serving as Underwriter’s Counsel. WithumSmith+Brown, PC serves as auditor. Continental Stock Transfer & Trust Company LLC is acting as trustee.