Tech SPAC Twist Investment files for a $175 million IPO

Twist Investment, a blank check company formed by the founder of Twist Capital targeting the tech sector, filed on Thursday with the SEC to raise up to $175 million in an initial public offering.

The Beverly Hills, CA-based company plans to raise $175 million by offering 17.5 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50. At the proposed deal size, Twist Investment would command a market value of $219 million.

The company is led by CEO and Chairman Sean Madnani, the founder and CEO of tech-focused merchant bank Twist Capital and a former Senior Managing Director at Guggenheim Securities. The company plans to leverage management's experience and target the technology sector, focusing on businesses developing core elements of a Technology Delivery System that are at the forefront of innovation. Additionally, it plans to focus on businesses in North America with enterprise values between $500 million and $2.5 billion.

Twist Investment was founded in 2021 and plans to list on the NYSE under the symbol TWIC.U. Deutsche Bank is the sole bookrunner on the deal.

The article Tech SPAC Twist Investment files for a $175 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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