CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 84% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

SPAC PepperLime Health prices $150m IPO

By William Hoffman

21:01, 18 October 2021

Health and fitness
PepperLime Health to target consumer health companies - Credit: Shutterstock

PepperLime Health Acquisition priced a $150m (£109.27) initial public offering last week with the intention of entering into a merger with one or more companies that operate at the intersection of technology, consumer health and wellness.

The special purpose acquisition company will use money from the IPO to fund a future business combination, the company said in a press release.

PepperLime Health sold 15 million shares at $10 per share and sole underwriter Oppenheimer has a 45-day option to buy up to 2.25 million more shares at the IPO price. Should Oppenheimer exercise that option, it would add $22.5m to the fundraising for a total of $172.5m.

Management team

In a filing with the Securities and Exchange Commission, PepperLime Health said it has not selected any business combination targets but that it expects to choose a consumer health and wellness company to merge with.

The company believes that health and wellness aligns well with its management team. The company is led by chairman and CEO Ramzi Haidamus, who most recently served as CEO for touch feedback technology developer Immersion as well as president for Nokia Technology, where he helped form the digital health division.


14,350.30 Price
-0.120% 1D Chg, %
Long position overnight fee -0.0255%
Short position overnight fee 0.0032%
Overnight fee time 21:00 (UTC)
Spread 1.8


0.50 Price
+2.620% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.00471

Oil - Crude

72.45 Price
-0.860% 1D Chg, %
Long position overnight fee -0.0146%
Short position overnight fee -0.0073%
Overnight fee time 21:00 (UTC)
Spread 0.03


1,937.16 Price
-0.280% 1D Chg, %
Long position overnight fee -0.0184%
Short position overnight fee 0.0102%
Overnight fee time 21:00 (UTC)
Spread 0.30

Additionally, the company’s president and director Frank Ferrari was most recently president of the Americas for WOW Tech Group, which manufactures and markets premium intimate pleasure products.

“Within this industry, we intend to target broad verticals that help consumers pursue ‘whole person health,’ including but not limited to, physical health, behavioral and mental health, sexual wellness, women’s health and sleep-related health,” the company wrote in the prospectus. “We believe these verticals have large, fragmented and attractive end markets that align with our mission to build a platform that advances human wellness and, with our differentiated approach to health and wellness, using a biopsychosocial model which encompasses the interconnectivity between the body, mind and interpersonal relationships.”

Trading on Nasdaq

PepperLime Health opened for trading on the Nasdaq midway through Friday.

It opened slightly below the IPO price at around $9.90 per share and has maintained that level through Monday's closing at $9.92 per share.

Read more: Product feedback platform UserTesting to go public

Rate this article

Capital Com is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as an investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risk.

Still looking for a broker you can trust?

Join the 530.000+ traders worldwide that chose to trade with

1. Create & verify your account 2. Make your first deposit 3. You’re all set. Start trading