ST. PETERSBURG, Fla., March 25,
2021 /PRNewswire/ -- Isleworth Healthcare Acquisition
Corp. (NASDAQ: ISLEU) (the "Company") announced today that, on
March 29, 2021, the Company's units
will no longer trade, and that the Company's common stock and
redeemable warrants, which together comprise the units will
commence trading separately. The common stock and warrants will be
listed on the Nasdaq Capital Market and trade with the ticker
symbols "ISLE" and "ISLEW", respectively. This is a mandatory and
automatic separation, and no action is required by the holders of
units.
Each unit consists of one share of common stock and one-half of
one redeemable warrant, with each whole warrant entitling the
holder to purchase one share of common stock at a price of
$11.50 per share. In the separation,
unit owners will receive the number of shares of common stock
underlying their units and the number of redeemable warrants
underlying such units; however, no fractional warrants will be
issued. Any holder of units whose ownership includes a fractional
number of underlying warrants, will be issued a number of warrants
that is rounded down to the nearest whole number. Accordingly, any
owner of units that does not own a multiple of two units will lose
one-half of a warrant upon separation.
Purchases of units that are made after market close on
March 25, 2021, may not settle prior
to the unit separation date and, accordingly, the number of
warrants issued to such purchasers may not reflect the warrants
underlying such recently purchased units.
About Isleworth Healthcare Acquisition Corp.
Isleworth Healthcare Acquisition Corp. is a blank check company
organized for the purpose of effecting a merger, share exchange,
asset acquisition, stock purchase, recapitalization,
reorganization, or other similar business combination with one or
more businesses or entities. It intends to focus on a
business combination with a company in the healthcare
industry. We anticipate targeting companies domiciled in
North America and Europe that are developing assets in the
biopharmaceutical and medical technology/medical device space which
aligns with our management team's experience in operating
healthcare companies and in drug and device/technology development.
We have operating expertise in managing large and high growth
businesses and more specifically, in the life sciences industry.
Collectively, we have built, managed, bought and sold companies or
technologies all over the world. Al
Weiss (Chairman, Director), former President, Worldwide
Operations Walt Disney Parks and
Resorts, and Bob Whitehead (CEO,
Director), a long-standing pharmaceutical executive, in
the United States and
internationally, and in large and emerging stage companies, will
lead the team. The team includes Dan
Halvorson (EVP & CFO, Director), experienced public and
private company executive in financial planning and operations in
the life science, technology and artificial intelligence
industries; Vipul Patel, MD,
(Director), a pioneer in the development and utilization of robotic
surgical technologies, and is connected to many emerging stage med
tech and device companies; Marc
Kozin, (Director), led the development of LEK's life science
strategic planning practice, and has more than 30 years of
healthcare M&A experience and serves on various bioscience
boards; Bob Dahl (Director),
formerly Managing Director of Healthcare Investments at the Carlyle
Group and was previously co-head of healthcare investment banking
at Credit Suisse; and Michelle
McKenna (Director), an experienced board member and she has
significant experience in M&A and early stage companies, and as
a C-suite executive of the NFL, she is responsible for the highly
effective Covid-19 contract tracing program across the league.
Forward-Looking Statements
This press release includes forward-looking statements that
involve risks and uncertainties. Forward-looking statements are
statements that are not historical facts. Such forward-looking
statements are subject to risks and uncertainties, which could
cause actual results to differ from the forward-looking statements,
including those set forth in the risk factors section of the
prospectus used in connection with the Company's initial public
offering. The Company expressly disclaims any obligations or
undertaking to release publicly any updates or revisions to any
forward-looking statements contained herein to reflect any change
in the Company's expectations with respect thereto or any change in
events, conditions or circumstances on which any statement is
based, except as required by law.
Contact:
Dan Halvorson
Executive Vice President & Chief Financial Officer and Board
Member
dan@isleworthhealthcare.com
View original
content:http://www.prnewswire.com/news-releases/isleworth-healthcare-acquisition-corp-announces-upcoming-automatic-unit-separation-301256288.html
SOURCE Isleworth Healthcare Acquisition Corp.