Sustainability-focused SPAC Queen’s Gambit Growth Capital II files for a $300 million IPO

Queen’s Gambit Growth Capital II, the second blank check company with an all-female team formed by VC Victoria Grace and Agility Logistics targeting a sustainable business, filed on Tuesday with the SEC to raise up to $300 million in an initial public offering.

The New York, NY-based company plans to raise $300 million by offering 30 million units at $10. Affiliates of Agility, an owner of the sponsor, and Luxor Capital Group each intend to purchase 9.9% of units in the offering. At the proposed deal size, Queen's Gambit Growth Capital II would command a market value of $375 million.

The company's all-female management team and board is led by CEO and Director Victoria Grace, a Founding Partner of Colle Capital Partners I, an opportunistic, early stage technology venture fund. She is joined by CFO Anastasia Nyrkovskaya, who currently serves as CFO of FORTUNE Media. The group's previous SPAC, Queen’s Gambit Growth Capital (GMBTU; +11% from $10 offer price), recently raised $300 million in January.

Queen's Gambit Growth Capital II plans to target businesses that provide solutions promoting sustainable development, economic growth, and prosperity, with sectors of potential interest including clean energy, healthcare, financial technology, industrials, mobility, and emerging technology

Queen’s Gambit Growth Capital II was founded in 2021 and plans to list on the Nasdaq under the symbol QWNBU. Barclays is the sole bookrunner on the deal.

The article Sustainability-focused SPAC Queen’s Gambit Growth Capital II files for a $300 million IPO 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.

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