IPOs

TMT SPAC Holicity files for a $250 million IPO

Holicity, a blank check company focused on acquiring a TMT business, filed on Friday with the SEC to raise up to $250 million in an initial public offering.

The Kirkland, WA-based company plans to raise $250 million by offering 25 million units at a price of $10. Each unit consists of one share and one-third of a warrant, exercisable at $11.50. At the proposed deal size, Holicity would command a market value of $313 million.

The company is led by CEO and Chairman Craig McCaw, a telecommunications veteran and the founder of McCraw Cellular Communications (now AT&T Wireless), CIO Randy Russell, the former Americas Head of Media & Telecom investment banking at Deutsche Bank, and CFO Steve Ednie.

The Kirkland, WA-based company was founded in 2020 and plans to list on the Nasdaq under the symbol HOLUU. Holicity filed confidentially on June 9, 2020. Deutsche Bank and BofA Securities are the joint bookrunners on the deal.

The article TMT SPAC Holicity files for a $250 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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