Former Uber Technologies Inc (NYSE:UBER) Chief Business Officer Emil Michael filed a Form S-1 with the U.S. Securities and Exchange Commission on Friday for the initial public offering of his newly-organized special purpose acquisition company (SPAC).
What Happened: DPCM Capital Inc in its IPO intends to offer 25 million shares, with each unit consisting of one Class A common stock share and one-third warrant rights for a $10 offer price. Only whole warrants would be exercisable and each whole warrant will entitle the holder to buy Class A common stock at an exercise price of $11.50. Underwriters will be paid 2% of gross proceeds as commissions.
The Class A common stock could be listed on NYSE under the symbol "XPOA."
The emerging growth company, led by CEO Michael, intends to raise a minimum of $250 million in proceeds. Including the underwriters' over-allotment options, the proceeds could reach up to $287.5 million.
Some of DPCM’s special advisors include former Executive Chairman of Alphabet Inc’s (NASDAQ:GOOGL) (NASDAQ:GOOG) Board Eric Schmidt, early Uber investor Shervin Pishevar, and Betsy Atkins — founder of Ascend Communications.
Why Does It Matter: DPCM Capital will focus its search within the technology sector for North America-based enterprises valued between $1 billion and $2 billion.
Blank check companies are increasingly becoming more popular in the IPO space. The privately-owned lifestyle brand - Playboy Enterprises Inc announced last week, plans for a merger with the blank check company Mountain Crest Acquisition Corp (NASDAQ:MCAC).
In the last week of September, United Wholesale Mortgage LLC entered into a merger deal with SPAC Gores Holdings IV Inc (NASDAQ:GHIV) for a $16.1 billion valuation.
In August, electric vehicle company Lordstown Motors Corp decided to merge with SPAC DiamondPeak Holdings Corp (NASDAQ:DPHC), CNBC reported. Whereas, in June, EV maker Nikola Corporation (NASDAQ:NKLA) announced a reverse merger with VectoIQ Acquisition Corp.
Photo courtesy: Kevin Moloney of Fortune Brainstorn TECH via Flickr
優步技術公司(紐約證券交易所股票代碼:UBER)前首席商務官埃米爾·邁克爾(Emil Michael)週五向美國證券交易委員會(SEC)提交了S-1表格,要求他新組建的特殊目的收購公司(SPAC)進行首次公開募股(IPO)。
事件:DPCM Capital Inc在首次公開募股(IPO)中打算髮行2500萬股,每個單位由一股A類普通股和三分之一的認股權證組成,出價為10美元。只有完整的權證可以行使,每份完整的權證將使持有者有權以11.50美元的行使價格購買A類普通股。承銷商將獲得毛收入的2%作為佣金。
A類普通股可以在紐約證券交易所上市,代碼是“XPOA”。
這家由首席執行官邁克爾領導的新興成長型公司打算籌集至少2.5億美元的收益。包括承銷商的超額配售選擇權在內,收益可能高達2.875億美元。
DPCM的一些特別顧問包括Alphabet Inc(納斯達克市場代碼:GOOGL)(納斯達克市場代碼:GOOG)董事會前執行主席埃裏克·施密特、優步早期投資者舍文·皮什瓦爾和Ascend Communications創始人貝齊·阿特金斯(Betsy Atkins)。
為什麼重要:DPCM Capital將把重點放在技術領域,尋找價值在10億至20億美元之間的北美企業。
空白支票公司在IPO領域越來越受歡迎。私人擁有的生活方式品牌花花公子企業公司上週宣佈,計劃與空白支票公司Mountain Crest Acquisition Corp(納斯達克股票代碼:MCAC)合併。
9月的最後一週,聯合批發抵押貸款有限責任公司(United Wholesale Mortgage LLC)與SPAC Gores Holdings IV Inc(納斯達克市場代碼:GHIV)達成合並協議,估值為161億美元。
據CNBC報道,8月,電動汽車公司Lordstown Motors Corp決定與SPAC DiamondPeak Holdings Corp(納斯達克股票代碼:DPHC)合併。鑑於6月份,電動汽車製造商尼古拉公司(納斯達克股票代碼:NKLA)宣佈與VectoIQ收購公司進行反向合併。
圖片提供:“財富”頭腦風暴技術公司的凱文·莫羅尼(Kevin Moloney)通過Flickr