Vector Acquisition II, the second blank check company formed by Vector Capital targeting the tech industry, raised $450 million by offering 45 million shares at $10.
The company offered 5 million more shares than anticipated. Vector Acquisition II removed warrants from its offering earlier this month and will now be offering common shares only.
The company is led by CEO and Chairman Alex Slusky, founder of of Vector Capital and former leader of the technology equity practice at Ziff Brothers Investments, and President David Fishman, a Partner and Head of the Investment Team at Vector Capital.
The group’s previous SPAC, Vector Acquisition (VACQ; +23% from $10 offer price), recently raised $300 million in September 2020 and is pending an acquisition of Rocket Lab. Vector Acquisition II plans to leverage its management team’s experience to target the technology and technology-enabled services sectors.
Vector Acquisition II plans to list on the Nasdaq under the symbol VAQC. Deutsche Bank and BofA Securities acted as lead managers on the deal.
Source: Nasdaq
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