Elliott Management's tech-focused SPAC Elliott Opportunity I files for a $1.0 billion IPO

Elliott Opportunity I, a blank check company formed by Elliott Management targeting technology, filed on Friday with the to raise up to $1.0 billion in an initial public offering.

The West Palm Beach, FL-based company plans to raise $1 billion by offering 100 million units at $10. Each unit will consist of one share of common stock and one-fourth of a warrant, exercisable at $11.50. At the proposed deal size, will command a market value of $1.25 billion.

The company is led by Co-Chairmen Jesse Cohn and , who both serve as Managing Partners at Elliott Management. They are joined by Co-CEO David Kerko, who serves as Head of North America Private Equity at Elliott, and Co-CEO , who is a Managing Director at Evergreen Coast Capital. Elliott’s other SPAC, Elliott Opportunity II (EOIIU.RC), filed concurrently with Elliott Opportunity I.

intends to capitalize on the management’s ability to identify and acquire opportunities in the technology sector that have leading market positions, operate in a space with a large and growing total addressable market, have a track record of sustainable growth with identifiable upside opportunities and strong management teams.

was founded in 2021 and plans to list on the NYSE. It has not yet chosen a ticker (RC ticker: EOIU.RC). Credit Suisse, and UBS Investment Bank are the joint bookrunners on the deal.

Source: Google SPAC Feed – Elliott Management’s tech-focused SPAC Elliott Opportunity I files for a $1.0 billion IPO