Another blank check company, Healthcare Acquisition Partners Corp., has filed an S-1. The deal is being underwritten by FTN Midwest Securities Corp. The company is going to focus its acquisition efforts on acquiring an operating company in the healthcare industry.
Healthcare Acquisition Partners Corp. – STILL IN REGISTRATION
Number of units being offered: 16,666,667
Proposed price per unit: $6.00
Terms of deal: One share of common stock and warrants to purchase two shares of common stock at $5.00 per share.
Underwriters: FTN Midwest Securities Corp.
Proposed ticker symbols
Common stock: Not known
Warrants: Not known
Units: Not known
Common shares to be outstanding subsequent to IPO: 20,833,334
Shares to be held by public shareholders: 16,666,667
Shares held by insiders: 4,166,667
Percentage held by public shareholders: 80.0%
Gross proceeds being raised: $100,000,002
Net proceeds to be held in escrow: $89,595,000
Escrowed proceeds per share applicable to future public shareholders: $5.38
Date of IPO: N/A
Date of original filing: October 14, 2005
Current stock price
Common stock: N/A
Warrants: N/A
Units: N/A
Insider shares: 4,166,667 shares purchased at $.006 per share. Total proceeds: $25,000.
Restrictions on insider shares: The shares will remain in escrow until six months after the consummation of an acquisition.
Other insider requirements: None.
Description of business: We were formed on August 15, 2005, as a blank check company for the purpose of acquiring, through a merger, capital stock exchange, asset acquisition or other similar business combination, one or more operating businesses in the healthcare sector.
Biographical information for significant officers: JOHN VORIS has served as Chief Executive Officer, President and Director since September 2005. Mr. Voris has a combination of experiences from senior management positions in a large multi-national pharmaceutical company, a large prescription benefit manager, as a CEO of a successful venture backed health care start-up and an active investor in four healthcare venture funds. Between 2000 and 2004, Mr. Voris was President and CEO of Epocrates, Inc., a software company providing clinical information to healthcare professionals at the point of care. Prior to Epocrates, Mr. Voris was an Executive Vice President at PCS Health Systems and an Executive Director of Eli Lilly and Company, where he spent over 20 years in a variety of sales, marketing, market research and business development positions. Mr. Voris received his M.B.A. and B.S. from the Kelley School of Business, Indiana University. Mr. Voris currently serves on the Board of Directors of Oscient Pharmaceuticals, Inc. (NASDAQ: OSCI), Epocrates, Inc. and Gentiae Clinical Research, Inc.
SEAN MCDEVITT has served as our non-executive Chairman of the Board since August 2005. He is currently a Managing Director at FTN Midwest Securities Corp. In 1999, Mr. McDevitt co-founded Alterity Partners, a boutique investment bank providing capital markets and merger and acquisition advisory services to high growth companies. Alterity Partners was acquired by FTN Midwest Securities Corp. in September 2004. Mr. McDevitt was formerly a senior investment banker at Goldman Sachs & Company, where he led deal teams in a variety of technology and healthcare/biopharmaceutical transactions, including mergers and acquisitions, divestitures, and IPOs. Prior to Goldman Sachs & Company, Mr. McDevitt worked in sales and marketing at Pfizer. He was a Captain in the U.S. Army Rangers and was decorated for combat in the Panama invasion. He is a member of the Council on Foreign Relations. Mr. McDevitt received his B.S. in Computer Science and Electrical Engineering from the U.S. Military Academy at West Point and an M.B.A. from Harvard Business School.
SEC filings: sec.gov |
