H.I.G. Acquisition II, the second blank check company formed by H.I.G. Capital targeting TMT or healthcare, filed with the SEC to raise up to $300 million in an initial public offering.
The Miami, FL-based company plans to raise $300 million by offering 30 million units at $10. Each unit consists of one share of common stock and one-fourth of a warrant, exercisable at $11.50. At the proposed deal size, H.I.G. Acquisition II would command a market value of $375 million.
The company is led by CEO and Director Brian Schwartz, who is Co-President of H.I.G. Capital, President and Director Rob Wolfson, who is an Executive Managing Director and Head of the Advantage Fund and US Healthcare at H.I.G. Capital, and CFO Timur Akazhanov, who is the Managing Director of the Advantage Fund at H.I.G. Capital and specializes in telecommunications, media, and tech private equity investments. H.I.G. Acquisition II intends to capitalize on management’s ability to identify, acquire, and manage a market-leading business that may provide opportunities for attractive risk-adjusted returns in the technology, media, telecommunications, or healthcare sectors.
H.I.G. Acquisition II was founded in 2021 and plans to list on the Nasdaq under the symbol HIGBU. Jefferies and UBS Investment Bank are the joint bookrunners on the deal.