- Gardiner Healthcare has announced the pricing of its IPO.
- The company will offer 7.5 million shares in the IPO.
- Underwriters will have a 45-day buy option for additional 1.125 million shares.
Blank-check company Gardiner Healthcare Acquisitions Corp. is all set to debut in the US stock market on Wednesday, Dec 22. It announced the pricing of its initial public offering on Tuesday.
The Ohio-based company is offering 7.5 million shares for US$10 per share in the IPO.
Gardiner Healthcare IPO
Gardiner is offering 7.5 million shares in the IPO. Each unit is comprised of one share of common stock and one warrant. Each warrant entitles the holder thereof to purchase one share of common stock for US$11.50 per share. Additionally, the company has granted a 45-day purchase option for additional 1.125 million shares to underwriters in case of over-allotment.
The IPO will close on Dec 27, 2021, subject to satisfactory closing conditions. Customers can purchase the stock after it starts trading on NASDAQ.
Gardiner Healthcare IPO price and other details:
Gardiner has priced each share at US$10. The company was scheduled to start trading on the Nasdaq Global Market (NASDAQ) on Wednesday under the ticker symbol GDNRU.
After the securities that consist of the units start to trade separately, the common stock and the warrants will be traded under the ticker symbol GDNR and GDNRW, respectively.
The sole book-running manager of the offering is Chardan. In addition, the independent underwriter for the offering is B. Riley Securities, Inc.
For the period from March 25 to Sept 30, 2021, the net loss was US$1,179, compared to a loss of US$1,000 for the period from March 25 to April 8, 2021. As of Sept 30, 2021, the company's total assets were worth US$145,300 compared to US$50,025 as of April 8, 2021.
The company was established to merge and acquire companies, mainly those engaged in life science and healthcare technology in North America and Europe.
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The US IPO market has cooled down in recent weeks as the year draws to a close. Nevertheless, the activities are expected to gain pace in 2022, with many companies queuing up for listings.