Technology SPACs List: 100 (Or So) Blank Check Companies, IPOs and Merger Updates
Welcome to page three of five.
Hambro Perks Acquisition Company (HPAC): The British investment firm plans to list a SPAC on the London stock exchange, the first so-called “blank cheque” listing on the bourse since new rules came into force in August 2021. The SPAC vehicle, dubbed Hambro Perks Acquisition Company (HPAC), aims to raise up to 150 million pounds ($201 million) through the listing and will focus on “high-performing” technology companies. Source: Reuters, November 23, 2021.
Hennessy Capital Investment VI: The blank check company, targeting the US industrial technology sector, filed with the SEC to raise up to $200 million in an IPO. Source: Renaissance Capital, March 10, 2021.
HIG Acquisition II: This is the second blank check company formed by H.I.G. Capital. This SPAC targets technology, media, telecommunications (TMT) or healthcare deals. The blank-check company has fled to raise $300 million in an IPO. Source: Renaissance Capital, March 15, 2021.
Industrial Tech Acquisitions II: The blank check company — targeting the industrial, energy, and communications technology space — filed with the SEC to raise up to $150 million in an IPO. Source: Renaissance Capital, March 22, 2021.
Integral Acquisition I: The blank check company has filed to raise up to $100 million in an IPO. The company plans to target technology-oriented businesses in Australia and/or New Zealand, focusing on those operating in sectors such as artificial intelligence, cybersecurity, data analytics, Internet of Things, quantum computing, and software-as-a-service. Source: Renaissance Capital, June 14, 2021.
InterPrivate IV InfraTech Partners: The digital infrastructure SPAC went public and raised $250 million. Its leadership includes several seasoned data center industry executives, meaning it will likely be looking to merge with a large data center operator looking to raise capital to the public markets. Source: DataCenter Knowledge, March 8, 2021.
IronNet: The company completed its previously announced business combination with LGL Systems Acquisition Corp. Source: IronNet, August 27, 2021.
Jaws Spitfire Acquisition Corp: Velo3D, a 3D printing technology firm, is nearing a deal to go public at a valuation of $1.6 billion by merging with Jaws Spitfire Acquisition Corp SPFR.N, a blank-check firm that counts tennis star Serena Williams among its board directors. Source: Reuters, March 22, 2021.
Keter1 Acquisition: The company is seeking to raise up to $250 million in an IPO. Keter1 Acquisition intends to focus on technology companies with a strong Israeli nexus, which management defines as technology companies established in Israel, founded by Israeli founders, has significant operations in Israel, and/or has significant Israeli investors. Source: Renaissance Capital, March 18, 2021.
Khosla Ventures: The company plans to raise $1.2 billion total via IPOs for three SPACs. Khosla’s blank-check companies plan to use the money they raise to take public three yet-to-be-determined private operating companies in reverse mergers. Source: Silicon Valley Business Journal, February 13, 2021.
KnightSwan Acquisition Corp.: The female-led SPAC launched an IPO to raise $200 million. KnightSwan plans to focus on acquiring cloud, cybersecurity, and/or mission intelligence businesses. KnightSwan’s leadership team includes CEO of Brandee Daly, founder and former CEO of C2S Consulting; and Non-executive Chair Teresa Carlson, president and chief growth officer of Splunk. Source: KnightSwan, January 20, 2022.
LGL Systems Acquisition: The company completed its previously announced business combination with LGL Systems Acquisition Corp. Source: IronNet, August 27, 2021.
Live Oak Mobility Acquisition: This is the third blank check company formed by Live Oak Merchant Partners. It targets the mobility and motion technology sectors, and is seeking to raise $200 million in an IPO. Source: Renaissance Capital, January 27, 2021.
Magnum Opus Acquisition Limited: The SPAC raised $200 million in an IPO and is focused on global secular themes driving the convergence of consumer and technology industries. The SPAC is sponsored by L2 Capital, a private investment firm. Source: L2 Capital, March 25, 2021.
Maquia Capital Acquisition: The blank check company, targeting tech-focused middle market and emerging growth businesses in North America, filed with the SEC to raise up to $200 million in an IPO. Source: Renaissance Capital, February 16, 2021.
MCAP Acquisition: The SPAC, backed by Monroe Capital LLC, raised its IPO target to $275 million. MCAP “may pursue an initial business combination target in any business, industry or sector, but it intends to capitalize on the differentiated ability of the Sponsor’s manager to source, acquire and manage software, technology-enabled, and business services companies,” the SPAC said. Source: MCAP, February 25, 2021.
Mistico Acquisition: Mistico Acquisition is the seventh blank check company formed by True Wind Capital. The SPAC filed with the SEC to raise up to $400 million in an IPO. The company plans to target private, high-growth, and high-quality technology businesses, specifically those with overall transaction values between $2 billion and $10 billion. Source: Renaissance Capital, March 15, 2021.
Moose Pond Acquisition Corp. (MPAC): RetailMeNot founder Cotter Cunningham and HomeAway co-founder Brian Sharples are leading the new SPAC. $MOOSU plans to raise $200 million for a future acquisition. The founders and board members have significant experience in travel, fintech, consumer services and software. Source: Austin Inno, March 10, 2021.
MSD Acquisition Corp: Michael Dell and executives involved in his family office have formed MSD Acquisition Corp., a SPAC that’s pursuing an IPO valued at roughly $575 million, and hunting for potential merger and acquisition (M&A) targets. Source: ChannelE2E, February 21, 2021.
NERDY: Online learning platform Nerdy has merged with TPG Pace Tech Opportunities, SPAC. The business combination will trade on the New York Stock Exchange under the ticker symbol NRDY. Warrants will trade under the symbol NRDY WS. Source: Nerdy, September 21, 2021.
New Beginnings: Airspan Networks Inc. is going public through a blank check company merger with New Beginnings Acquisition Corp. to fund a push for business with phone carriers that are upgrading to 5G networks. The U.S. wireless equipment maker said it plans to merge with special purpose acquisition vehicle New Beginnings Acquisition Corp. The name is apt: Airspan went to the stock market once before at the height of the dotcom bubble. The shares collapsed and never fully recovered, and the Boca Raton, Florida-based company delisted in 2009. Source: Bloomberg, March 8, 2021.
NewHold Investment II: The second blank check company formed by NewHold Enterprises has filed with the SEC to raise $175 million in an IPO. The company plans to target industrial technology businesses with an aggregate enterprise value of $700+ million, focusing on those that are using advanced data analytics, software, artificial intelligence, and cutting edge instrumentation and process automation. Source: Renaissance Capital, March 24, 2021.
NextGen Acquisition II: The blank check company — targeting the industrial, technology, and healthcare sectors — raised $350 million. The company originally filed in early March to raise $400 million in its IPO. Source: Reuters, March 22, 2021.
Nextel: It’s sounds like the classic Nextel brand will become publicly traded thanks to a SPAC deal. Source: Nextel, May 6, 2021.
Nightdragon Acquisition Corp: This SPAC, focused on the cybersecurity market, plans to raise $300 million. The firm is led by McAfee and FireEye veterans David DeWalt and Ken Gonzalez. Source: Silicon Valley Business Journal, February 10, 2021.
North Atlantic Acquisition, a blank check company targeting the consumer, industrials, and telecom sectors in North America and Europe, filed on January 4, 2021, with the SEC to raise up to $300 million in an initial public offering, Renaissance Capital reports.
Continue to page four of five for more SPACs.