7GC & Co. Holdings, a blank check company formed by 7GC and Hennessy Capital targeting a tech business, raised $200 million by offering 20 million units at $10. The company offered 2.5 million more units than anticipated. Each unit will consist of one share of common stock and one-half of a warrant, exercisable at $11.50.
The company is led by CEO and Chairman Jack Leeney, who is a Founding Partner of 7GC and previously served as Head of US Investing for Telefonica Ventures. He is joined by CFO and COO Christopher Walsh, who is currently a VP at 7GC and previously was a founding member at Empros Capital. Hennessy Capital Managing Partners Thomas Hennessy and Joseph Beck, who most recently served as Co-CEOs of recent IPO PropTech Investment II (PTICU), will serve as Directors.
7GC & Co. Holdings seeks to leverage the extensive SPAC experience and technology relationships of its officers, directors, and advisors with founders, venture capitalists, and growth equity managers to identify and partner with a high growth, cutting-edge technology business.
7GC & Co. Holdings plans to list on the Nasdaq under the symbol VIIAU. Cantor Fitzgerald acted as a lead manager on the deal.
The article 7GC & Co. Holdings, a SPAC formed by 7GC and Hennessy Capital, prices upsized $200 million IPO at $10 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.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.