Tech-focused private equity firm’s SPAC Vector Acquisition files for a $300 million IPO

Vector Acquisition, a blank check company formed by Vector Capital targeting the tech industry, filed on Tuesday with the 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, would command a market value of $375 million.

The company is led by CEO and Chairman , founder of of Vector Capital and former leader of the technology equity practice at Ziff Brothers Investments, and President , 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.

was founded in 2020 and plans to list on the Nasdaq under the symbol VACQU. and BofA Securities are the joint bookrunners on the deal.

Source: Renaissance Capital- Tech-focused private equity firm’s SPAC Vector Acquisition files for a $300 million IPO

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