Adit EdTech Acquisition, a blank check company formed by Adit Ventures targeting the education sector, filed on Wednesday with the SEC to raise up to $200 million in an initial public offering.
The New York, NY-based company plans to raise $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, Adit EdTech Acquisition would command a market value of $250 million.
The company is led by Chairman Eric Munson, co-founder and CIO of Adit Ventures and a former Principal at Ada Investments, and CEO and Director David Shrier, a Professor of Practice, AI, and Innovation at Imperial College Business School and co-founder and Managing Director of Esme Learning Solutions. The company plans to target the education, training, and education technology sectors.
Adit EdTech Acquisition was founded in 2020 and plans to list on the NYSE under the symbol ADEX.U. The company filed confidentially on November 4, 2020. EarlyBirdCapital is the sole bookrunner on the deal.
The article Education SPAC Adit EdTech Acquisition files for a $200 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
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