Vector Acquisition, a blank check company formed by Vector Capital targeting the tech industry, filed on Tuesday with the SEC to raise up to $300 million in an initial public offering.
The San Francisco, CA-based company plans to raise $300 million by offering 30 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, Vector Acquisition would command a market value of $375 million.
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 company plans to leverage its management team’s experience and target the technology and technology-enabled services sectors.