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Healthcare-focused blank-check company closes IPO

Healthcare-focused blank-check company DFB Healthcare Acquisitions Corp. has closed its IPO of 25 million units at $10 apiece, resulting in gross proceeds of $250 million.

The company has also granted the underwriters a 45-day option to buy up to an additional 3,750,000 units at the IPO price to cover any overallotments.

The company's units began trading on the Nasdaq Capital Market under the ticker symbol DFBHU on Feb. 16.

Each unit consists of 1 common share and one-third of 1 warrant, with each whole warrant enabling its holder to buy 1 common share at a price of $11.50 apiece. Once the securities comprising the units begin separate trading, the common shares and warrants are expected to be listed on the Nasdaq Capital Market under the ticker symbols DFBH and DFBHW, respectively.

DFB Healthcare is sponsored by Deerfield/RAB Ventures LLC. The company was jointly founded by Deerfield Management Co. LP and its management team, including CEO Richard Barasch. Deerfield is an investment firm focused solely on the healthcare industry.

Goldman Sachs & Co. and Deutsche Bank Securities acted as joint book runners for the offering, and Leerink Partners acted as co-manager.