Renaissance Capital logo

Tech and software SPAC Thimble Point Acquisition II withdraws $200 million IPO

March 19, 2024

Thimble Point Acquisition II, a blank check company targeting high-growth software and technology, withdrew its plans for an initial public offering on Tuesday. It had filed in June 2021 to raise $200 million by offering 20 million units at $10, with each unit containing one share of common stock and one-third of a warrant. The company had not updated its prospectus since its initial filing.

The company was set to be led by CEO and Chairman Elon Boms, the Managing Director of the Pritzker Vlock Family Office. It had intended to focus on high-growth software and technology-enabled companies disrupting large and established industries and markets.

Management's previous SPAC, Thimble Point Acquisition, merged with digital healthcare company Pear Therapeutics (PEAR) in December 2021. Pear Therapeutics filed for bankruptcy in April 2023.

The New Haven, CT-based company was founded in 2021 and had planned to list on the Nasdaq under the symbol THMBU. Citi and Credit Suisse were set to be the joint bookrunners on the deal.