Lux Health Tech Acquisition Corp. (NASDAQ:LUXA) announced this afternoon that it has signed a non-binding letter of intent (LOI) to combine with a leading life sciences company.
The SPAC kept the details pertaining to the unnamed target to a minimum, but disclosed that the company has an experienced executive and scientific leadership team that has built an extensive technology platform with multiple programs in development. Lux Health Tech expects to offer the target its resources, experience and network of relationships to support growth and access to public markets.
Additionally, the target’s existing equity holders will be rolling over 100% of their equity into the combined public company. Little else is disclosed in the press release regarding the transaction, but Lux Health Tech expects to announce further information once the agreement is executed, which is expected to occur in the second half of 2022.
The SPAC announced the pricing of its $300 million IPO nearly two years ago in October 2020, and had initially set out to combine with a healthcare technology target with an experienced management team of serial entrepreneurs and acclaimed scientists. Lux Health is led by Chairman Peter Hébert, CEO and Director Josh DeFonzo and CFO and Treasurer Segolene Scarborough.
This LOI comes several weeks before its transaction deadline on October 20, 2022. But, since this deal is not at the “definitive agreement” stage, and is still at the non-binding LOI stage, SPACInsider will not consider this deal “announced”. As such, it will remain in the “Searching” category until a definitive agreement is signed.
Terms Tracker for the Week Ending July 11, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. One more IPO priced this week bringing July’s total to 8. However, there are still three more weeks left in the month so that number...
At the SPAC of Dawn Lately de-SPACs have been announcing corporate moves of a kind frequently in trios as was the case earlier this week when WeBull (NASDAQ:BULL), AST SpaceMobile (NASDAQ:ASTS) and Quantum-Si (NASDAQ:QSI) all announced major equity raises. This week, it is a trio of de-SPACs making reverse stock splits in unison, which is...
A look at Plus’ software-first approach to autonomous trucking. After years of investment and excitement, the dawn of self-driving cars and trucks is now here. The question now is which business model among autonomous driving technology companies will win out? This week, we speak with David Liu, CEO of autonomous trucking company Plus. Plus announced...
At the SPAC of Dawn One thing that SPAC investors can typically count on while their money is invested in a SPAC’s trust is that it is going to grow one way or the other between now and their next redemption opportunity, but the devil can occasionally be in the details. In 2024, it became...
Thunderstone has filed for a $50 million SPAC to put a new first-time Asia-based team in action on a generalist hunt. The new SPAC is offering investors a right to a 1/8 share in each unit with 18 months to initially complete a business combination. It is the 8th fresh S-1 filed with underwriter D....