Healthwell Acquisition Corp. I Announces Closing of $250,000,000 Initial Public Offering

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WINNETKA, Ill., August 05, 2021--(BUSINESS WIRE)--Healthwell Acquisition Corp. I (NASDAQ: HWELU) ("Healthwell" or the "Company") announced the closing of its initial public offering of 25,000,000 units at a price of $10.00 per unit. The Company also granted Jefferies LLC a 45-day option to purchase up to 3,750,000 additional units at the IPO price, less underwriting discounts and commissions, to cover over-allotments, if any. The units are listed on The NASDAQ Capital Market ("NASDAQ") and began trading under the ticker symbol "HWELU" on August 3, 2021. Each unit consists of one share of Class A common stock of the Company and one-half of one redeemable warrant with each whole warrant exercisable to purchase one share of Class A common stock at a price of $11.50 per share, subject to adjustment. Once the securities comprising the units begin separate trading, the Class A common stock and warrants are expected to be listed on NASDAQ under the symbols "HWEL" and "HWELW," respectively.

Jefferies LLC acted as the sole book-running manager for the IPO. This offering was made only by means of a prospectus.

When available, copies of the prospectus related to this offering may be obtained from Jefferies LLC at Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, or by telephone at (877) 821-7388 or by email at prospectus_department@jefferies.com.

A registration statement relating to the securities was declared effective by the U.S. Securities and Exchange Commission (the "SEC") on August 2, 2021. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Healthwell

Healthwell is a blank check company, also commonly referred to as a special purpose acquisition company, or SPAC, formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities. We intend to leverage our team’s expertise to target businesses in healthcare technology, tech-enabled healthcare services, and tech-enabled wellness.

Forward-Looking Statements

This press release contains statements that constitute "forward-looking statements," including with respect to the initial public offering and search for an initial business combination. No assurance can be given that the proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement for the initial public offering filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210805006155/en/

Contacts

Investors/Media
Isabella Wiltse
Edelman for Healthwell
HealthwellSPAC@edelman.com
(203) 536-6066

Company
Tracy Wan
President and Chief Financial Officer
info@healthwellspac.com
(847) 230-9162

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