GO Acquisition, a blank check company formed by the co-founder of GLG and the founder of Certares targeting the travel industry, filed on Tuesday with the SEC to raise up to $500 million in an initial public offering.
The New York, NY-based company plans to raise $500 million by offering 50 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50. At the proposed deal size, GO Acquisition would command a market value of $625 million.
The company is led by co-CEO Noam Gottesman, the founder and Managing Partner of single-family office TOMS Capital and co-founder of GLG, and co-CEO Gregory O’Hara, the founder of private equity firm and Tripadvisor’s controlling shareholder Certares Management. The company plans to target travel-related and travel-adjacent businesses in North America and Europe.
Noam Gottesman previously founded two other London-listed SPACs: Nomad Holdings in 2014, which acquired Europe-based Iglo and Findus in 2015, changed its name to Nomad Foods, and relisted in the US (NYSE: NOMD; +215% from $10 offer price); and Landscape Acquisition Holdings in 2017, which acquired AP Wireless in 2020 and changed its name to Digital Landscape Group (LSE: DLGI; -25%).
GO Acquisition was founded in 2020 and plans to list on the NYSE but has not selected a ticker yet. Credit Suisse is the sole bookrunner on the deal.
The article Travel SPAC GO Acquisition files for a $500 million IPO originally appeared on IPO investment manager Renaissance Capital’s web site renaissancecapital.com.
Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital’s research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital’s Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.
Source: NasDaq
