Deal sells shares via underwriter EarlyBirdCapital and Aegis Capital
By Devika Patel
Knoxville, Tenn., July 8 - MedWorth Acquisition Corp. said the underwriters for its initial public offering of stock opted to exercise the deal's $7.92 million greenshoe in full for total proceeds of $60.72 million on July 3. The deal priced for $48 million with a $7.2 million greenshoe on May 20 and was increased to $52.8 million with a $7.92 million greenshoe on June 28.
The company sold 7.59 million common shares at $8.00 per share. Of the shares, 990,000 comprised the fully exercised greenshoe.
EarlyBirdCapital, Inc. was the underwriter. Aegis Capital Corp. also assisted.
Proceeds will be used for fees, expenses, working capital and general corporate purposes.
The blank check company focuses on the U.S. specialty pharmacy, infusion pharmacy and drug distribution sectors and is based in Miami.
| Issuer: | MedWorth Acquisition Corp.
|
| Issue: | Common stock
|
| Amount: | $60.72 million (including $7.92 million greenshoe)
|
| Shares: | 7.59 million
|
| Price: | $8.00
|
| Warrants: | No
|
| Underwriter: | EarlyBirdCapital, Inc.
|
| Pricing date: | May 20
|
| Upsized: | June 26
|
| Settlement date: | July 3
|
| Stock exchange: | Nasdaq: MWRX
|
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