NEW YORK, Jan. 29, 2021 /PRNewswire/ -- HealthCor Catalio Acquisition Corp. (the "Company"), a special purpose acquisition company formed for the purpose of entering into a combination with one or more businesses, today announced the closing of its upsized initial public offering of 20,700,000 Class A ordinary shares at a price of $10.00 per share, including 2,700,000 Class A ordinary shares issued pursuant to the underwriter's full exercise of its over-allotment option. Total gross proceeds from the offering were $207 million before deducting underwriting discounts and commissions and other offering expenses payable by the Company.
The Company's sponsor is owned by affiliates of HealthCor Management, L.P., which manages approximately $2.7 billion in assets across long/short and long only healthcare funds, and Catalio Capital Management, LP, a private equity firm that invests in breakthrough biomedical technology companies. The Company is led by Christopher Gaulin, as Chief Executive Officer, Joe Healey, as Chairman of the Board of Directors, and George Petrocheilos, as President.
The Company's shares began trading on the Nasdaq Capital Market under the ticker symbol "HCAQ" on January 27, 2021.
Jefferies LLC acted as sole book-running manager for the offering. The offering was made only by means of a prospectus. Copies of the final prospectus related to the offering may be obtained from: Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, New York 10022, telephone: 877-821-7388 or email: Prospectus_Department@Jefferies.com.
A registration statement relating to the securities became effective on January 26, 2021 in accordance with Section 8(a) of the Securities Act of 1933, as amended. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Cautionary Note Concerning Forward-Looking Statements
This press release contains statements that constitute "forward-looking statements," including with respect to the anticipated use of the net proceeds. No assurance can be given that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement and prospectus for the Company's offering filed with the Securities and Exchange Commission ("SEC"). Copies are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
SOURCE HealthCor Management, L.P.
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