Technology SPACs List: 100 (Or So) Blank Check Companies, IPOs and Merger Updates
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B Capital Technology Opportunities: The blank check company filed with the SEC to raise up to $300 million in an IPO. Source: Renaissance Capital, February 19, 2021.
Belong Acquisition: The blank check company is seeking to raise $150 million in an IPO. The SPAC plans to focus on high-growth technology and tech-enabled businesses in sectors such as e-commerce, software and digital media.
Big Sky Growth Partners: Mark Vadon, the Seattle e-commerce entrepreneur who co-founded Zulily and Blue Nile and served as chairman of Chewy, is joining the SPAC craze. Vadon has emerged as the chairman and CEO of Big Sky Growth Partners, a blank check company that’s looking to raise $300 million via an IPO. Source: GeekWire, March 2, 2021.
Black Dragon Acquisition I: The blank-check company plans to raise up to $250 million in an IPO. The SPAC will target the e-commerce, media technology, and FinTech sectors. Source: Renaissance Capital, April 5, 2021.
Build Acquisition Corp.: The company raised $200 million in an IPO, and plans to acquire SaaS, FinTech or another type of software business. Source: Austin Business Journal, March 18, 2021.
Byte Acquisition: The blank-check company raised $300 million. The company plans to target the Israeli technology industry, including cybersecurity, automotive technology, fintech, enterprise software, and cloud computing, among other focus areas. Source: Renaissance Capital, March 19, 2021.
CAVU Technology Acquisition: The company is seeking to raise $100 million. Potential acquisition and merger targets include North American companies operating in technology, including in IT services, software, SaaS, and digital transformation. Source: Seeking Alpha, March 19, 2021.
Cerberus Telecom Acquisition Corp.: Kore Wireless Group has agreed to go public through a blank-check company backed by private equity firm Cerberus Capital Management. The deal with Cerberus Telecom Acquisition Corp. values the combined company at about $1 billion, including debt. Kore, which is owned by private equity firm Abry Partners, helps businesses connect IoT devices. Source: Bloomberg, March 12, 2021.
Crescent Acquisition Corp. The SPAC ($CRSA) has completed its previously announced merger with LiveVox Holdings, a cloud-based provider of customer services and digital engagement tools. Source: Nasdaq, June 21, 2021.
Corazon Capital V838 Monoceros: The company, incorporated in the Cayman Islands, is seeking to raise $200 million in an IPO. Corazon Capital will target businesses with “consumer-facing technology, subscription- or recurring-revenue models, marketplaces and networks, or those that operate in sectors such as education, social media and dating, and e-commerce.” Source: Crain’s Chicago Business, March 1, 2021.
Cvent: The company, which develops cloud-based event-management software, is merging with a SPAC in a deal valued at $5 billion including debt. The SPAC is Dragoneer Growth Opportunities Corp. II. Private equity firm Vista Equity Partners acquired Cvent for $1.65 billion in 2016. Source: The Wall Street Journal, July 20, 2021.
dMY Technology Group III: IonQ has entered into a definitive merger agreement with dMY Technology Group III. Upon closing of the transaction, IonQ shares will trade on the NYSE under the symbol “IONQ” as the first publicly traded pure-play hardware and software company in the quantum computing space, the companies say.
dMY Technology Group IV: Multiple updates…
- The fourth blank check company formed by Niccolo de Masi and Harry You targets an app business. The company is seeking to raise $250 million in an IPO. Source: Renaissance Capital, February 17, 2021.
- The SPAC raised $300 million, and plans to target companies in the consumer technology ecosystem that are either consumer-facing or support the infrastructure of consumer apps, with enterprise values between $1 billion and $3 billion. Source: Renaissance Capital, March 5, 2021.
Dragoneer Growth Opportunities Corp. II: The SPAC is merging with Cvent, which develops cloud-based event-management software. The deal is valued at $5 billion including debt. Private equity firm Vista Equity Partners acquired Cvent for $1.65 billion in 2016. Source: The Wall Street Journal, July 20, 2021.
EC Assets: The Luxembourg-based team at EC Assets, led by Ludwig Klatzka, is preparing to list a $250 million SPAC in New York. The prospectus and the listing application for this are to be filed with the SEC in New York before the end of March. EC Assets will seek to acquire a late-stage, IPO-read tech company in Europe, the United Kingdom, and/or the United States. The focus: SaaS, WorkTech and FinTech. The target company is expected have a valuation between $900 million and $4 billion. Source: EC Assets, March 1, 2021.
Elliott Management’s SPAC: Multiple updates…
- The hedge fund, best known for its high-profile shareholder-activist campaigns, is looking to join the sizzling SPAC craze. The firm, founded by billionaire Paul Singer, has been meeting with bankers about raising more than $1 billion for a special purpose-acquisition company. They cautioned the process is at an early stage and plans could change. Source: The Wall Street Journal, February 7, 2021.
- Elliott Opportunity I: The blank check company, formed by Elliott Management, will target technology opportunities. Elliott Opportunity I filed with the SEC to raise up to $1.0 billion in an IPO. Source: Renaissance Capital, February 19, 2021.
Evo Acquisition: The blank check company, formed by Evolution Capital Management targeting the tech and financial sectors, has raised $109 million. Evo Acquisition is seeking to merge with businesses in the technology and financial sectors with enterprise values between $250 million and $750 million. Source: Renaissance Capital, February 9, 2021.
Falcon Acquisition: The company filed with the SEC to raise up to $250 million in an IPO. The company plans to target “the dis-intermediators,” which it defines as forward-thinking and technology-driven businesses leading the disruption across the legacy incumbents, focusing on those across the media & entertainment, technology, financial services, wellness, infrastructure, and real estate industries. Source: Renaissance Capital, March 26, 2016.
Global Synergy Acquisition, a blank check company targeting technology services, raised $225 million, Renaissance Capital reports. The management team plans to acquire a business that can benefit from its operational and investing expertise in sectors such as IT Services and Business Process Outsourcing, or BPO, collectively defined as Technology Services or IT Enabled Services (ITES), Renaissance says.
Global Technology Acquisition I, a blank check company targeting SaaS-focused businesses, has filed to raise $150 million in an IPO. The company aims to leverage management’s experience to target businesses in the marketplace, financial technology, and software-as-a-service verticals in Europe, Latin America, and North America. Source: Renaissance Capital, July 13, 2021.
Gores Technology Partners: The ninth blank check company formed by The Gores Group targeting a tech business, filed with the SEC to raise up to $240 million in an IPO. The company plans to target technology businesses in the consumer internet, enterprise software, fintech, digital health, proptech, gaming, agtech, and logistics industries. Source: Renaissance Capital, February 2, 2021.
Continue to page three of five for more SPACs.