IPOs

Tech-focused SPAC CAVU Technology Acquisition files for a $100 million IPO

CAVU Technology Acquisition, a blank check company formed by the co-founders of CAVU Capital targeting tech, filed on Thursday with the SEC to raise up to $100 million in an initial public offering.

The Tampa, FL-based company plans to raise $100 million by offering 10 million units at $10. Each unit will consist of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, CAVU Technology Acquisition will command a market value of $125 million.

The company is led by CEO and Chairman Barry Shevlin and COO and Director Michael Johnson, who together co-founded boutique investment bank CAVU Capital. They are joined by CFO Nicole Speltz, who founded Transcend Consulting in 2017 and serves as President. CAVU Technology Acquisition intends to focus on North American targets operating in technology, including in IT services, software, SaaS, and digital transformation.

CAVU Technology Acquisition was founded in 2021 and plans to list on the Nasdaq under the symbol CAVUU. Maxim Group LLC is the sole bookrunner on the deal.

The article Tech-focused SPAC CAVU Technology Acquisition files for a $100 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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