Technology SPACs List: 100 (Or So) Blank Check Companies, IPOs and Merger Updates
Welcome to page four of five.
ONE: The SPAC merged with 3-D printing company Markforged. Source: ChannelE2E, February 25, 2021.
Osprey Technology Acquisition The SPAC is merging with BlackSky, a real-time geospatial intelligence, imagery and data analytics company. The pro-forma value of the merger is expected to be nearly $1.5 billion. The resulting company is expected to be listed on the New York Stock Exchange, using the symbol $BKSY. Source: Business Wire, February 18, 2021.
Parabellum Acquisition: The blank check company, targeting Internet of Things (IoT) opportunities, filed on with the SEC to raise up to $125 million in an IPO. Source: Renaissance Capital, March 26, 2021.
Pathfinder Acquisition: Multiple Updates…
- The blank check company, formed by HGGC and Industry Ventures targeting technology, initially filed with the SEC to raise up to $275 million in an IPO. But the target rose to $300 million on February 17, 2020, the company announced. The Class A ordinary shares and warrants are expected to be listed on the Nasdaq Capital Market under the symbols “PFDR” and “PFDRW,” respectively. The Company, which is jointly sponsored by affiliates of HGGC and Industry Ventures, and is led by Chairman Richard Lawson, CEO David Chung, and Chief Investment Officer Lindsay Sharma, expects to focus on growth-oriented or technology-enabled targets that are at a key inflection point in their business evolution, according to a statement from the firm. Sources: Renaissance Capital, January 28, 2021, and Pathfinder Acquisition, February 16, 2021.
- Pathfinder is merging with ServiceMax, a field service management software provider owned by Silver Lake, Salesforce Ventures and GE. Source: ChannelE2E, July 16, 2021.
Perception Capital Corp. II: The blank check company plans to raise about $250 million, and plans to pursue industrial technology businesses. Source: SEC filing, April 7, 2021.
Quiet Plus Acquisition: The SPAC is seeking to raise $250 million in an IPO. The company will potentially focus on opportunities involving the digitization of healthcare, financial technology, and digital marketplaces, among others. Source: Renaissance Capital, March 18, 2021.
Reinvent Technology Partners X, a blank check company formed by Reid Hoffman and Mark Pincus targeting the tech sector, filed with the SEC to raise up to $220 million in an IPO. Source: Renaissance Capital, May 5, 2021.
Reinvent Technology Partners Y: Multiple updates…
- The SPAC has filed to raise $850 million in an IPO of its Class A units. The SPAC, focused on consumer Internet and mobile gaming, is the third to be created by co-lead directors Reid Hoffman and Mark Pincus. Source: SeekingAlpha, February 17, 2021.
- The SPAC plans to target a business in a tech sector or subsector, including consumer internet, online marketplaces, ecommerce, payments, gaming, artificial intelligence, SaaS, digital healthcare, autonomous vehicles, and transportation, among others. Source: Renaissance Capital, March 16, 2021.
Robot Acquisition Corporation (RoboSPAC): The SPAC, formed by BOTS, Inc. is seeking to raise the necessary capital to acquire an advanced, profitable, robotics enterprise. Source: BOTS, January 28, 2021.
Rocket Internet Growth Opportunities: Multiple updates…
- The blank check company, formed by Rocket Internet, targets the technology sector. The SPAC filed with the SEC to raise up to $250 million in an IPO. Source: Renaissance Capital, February 9, 2021.
- The SPAC raised $250 million in an IPO and will focus on the technology sector. Source: Renaissance Capital, March 23, 2021.
Rosecliff Acquisition I: The blank check company, backed by Rosecliff Venture Management, is targeting technology and seeking to raise $200 million in an IPO. Source: Renaissance Capital, January 27, 2021.
Science Strategic Acquisition Bravo: The company, targeting the consumer technology industry, has filed with the SEC to raise up to $200 million in an IPO. Source: Renaissance Capital, March 26, 2021.
SEP Growth Holdings: Formed by Sumeru Equity Partners, the SPAC plans to raise $250 million in an IPO. The company plans to target high-quality growth businesses in the enterprise technology sector, with a focus on SaaS, data and analytics, cybersecurity, and other enterprise technology. Source: Renaissance Capital, March 12, 2021.
Skydeck Acquisition: The blank check company targets the media, technology, communications, and digital health sectors. The SPAC plans to raise up to $250 million in an IPO. Source: Renaissance Capital, March 16, 2021.
Skyline Acquisition Corp: Lion Wealth Management Limited, Constant Epoch Technology Development Limited and Ruoxi are forming Skyline I Acquisition Corp. Source: Lion, March 1, 2021.
SOAR Technology Acquisition: The New York-based SPAC plans to raise $250 million via IPO. SOAR is seeking to align with a “tech-enabled, scalable growth company that benefits from secular tailwinds, has a competitive market position, attractive unit economics, and a proven management team,” the black-check company says. Source: Renaissance Capital, February 18, 2021.
Softbank Launching Two SPACs: Multiple updates…
- SVF Investment Corp 2 is $200 million and SVF Investment Corp 3 is a $350 million vehicle. Both SPACs have a standard roughly 15% over-allotment option, which means that their final sizes will likely end up at $230 million and $400 million respectively assuming that the underwriters take their option (number three has a slightly smaller over-allotment if you’re checking my math). Source: TechCrunch, February 6, 2021.
- SVF Investment Corp. 3, cut the size of its initial public offering to $280 million from $350 million, a regulatory filing showed. The firm, which did not give a reason for cutting the size of its IPO, said it will seek a target in the technology space. Source: NIKKEI Asia, March 1, 2021.
Stillwater Growth I: The blank check company filed with the SEC to raise up to $300 million in an IPO. The company plans to target high-quality, growing businesses in the technology industry with large total addressable markets. Source: Renaissance Capital, April 16, 2021.
Stratim Cloud Acquisition Corp.: The company plans to raise $250 million. The shares of Class A common stock and redeemable warrants are expected to be listed on Nasdaq under the symbols “SCAQ” and “ SCAQW”, respectively. The Company intends to focus on businesses operating in the technology sector. Source: Stratim Cloud Acquisition Corp., March 11, 2021.
Supernova Partners Acquisition III: The third blank check company formed by a Zillow co-founder and other entrepreneurs and investment veterans priced an IPO to raise $250 million. Source: Renaissance Capital, March 22, 2021.
Continue to page five of five for more SPACs.