NEW YORK, May 10, 2019 /PRNewswire/ -- Chardan, a global investment bank, announced today that the firm acted as lead left joint book runner in the initial public offering of Health Sciences Acquisitions Corporation (HSACU), raising aggregate gross proceeds of $115 million, including exercise of the over-allotment. Health Sciences Acquisitions Corporation began trading on the NASDAQ Capital Market on May 10, 2019 and is sponsored by an affiliate of RTW Investments, LP ("RTW"), a New York based financial firm with more than $1.9 billion of regulatory assets under management, as of January 2, 2019.
Health Sciences Acquisitions Corporation is the third healthcare-focused special purpose acquisition company ("SPAC") to IPO in the past twelve months. Chardan previously sponsored and was sole book-running manager of Chardan Healthcare Acquisition Corp. (NYSE American: CHAC.U), which began trading on December 14, 2018. Chardan also acted as lead manager in ARYA Sciences Acquisition Corp. (ARYAU), which began trading on October 5, 2018.
"Strong market reception to Health Sciences is a testament to the RTW team and to the value a SPAC provides as a financing alternative for growing biotech companies. We believe the opportunity to leverage SPACs in biotech is extraordinary," noted George Kaufman, Partner and Head of Investment Banking with Chardan.
Chardan has participated in advisory and capital raising transactions totaling more than $700 million year to date in 2019.
Chardan is an independent global investment bank specializing in healthcare, SPACs and emerging growth companies. Our range of services include capital raising, merger and acquisition advisory, strategic advisory, equity research, corporate access and institutional trading. Headquartered in New York City, Chardan is a registered broker-dealer with the U.S. Securities and Exchange Commission and is a member of the following: FINRA, SIPC, NASDAQ and the NYSE Arca, Inc.
Learn more about Chardan: www.chardan.com
Emily Levine, Chardan
Tom Rozycki, Prosek Partners