Holicity, a blank check company formed by Pendrell executives focused on acquiring a TMT business, raised $275 million by offering 27.5 million units at $10. The company offered 2.5 million more units than anticipated. Each unit consists of one share and one-third of a warrant, exercisable at $11.50.
The company is led by CEO and Chairman Craig McCaw, a telecommunications veteran and the founder of McCaw Cellular Communications (now AT&T Wireless), and CIO Randy Russell, the former Americas Head of Media & Telecom investment banking at Deutsche Bank. The company plans to target the TMT industry in the US and other developed countries.
Holicity plans to list on the Nasdaq under the symbol HOLUU. Deutsche Bank and BofA Securities acted as lead managers on the deal.
The article TMT SPAC Holicity prices upsized $275 million IPO at $10 originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
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