Cal Redwood Acquisition, a blank check company targeting technology, media, and telecommunications, filed on Monday with the SEC to raise up to $200 million in an initial public offering.
The Menlo Park, CA-based company plans to raise $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one-tenth of a right to purchase an additional share of common stock.
Cal Redwood Acquisition is led by President and Chairman Vivek Ranadivé and CEO and director Daven Patel, who founded Bow Capital Management. Previously, Ranadivé founded software company TIBCO, which was sold to Vista Equity Partners for $4.3 billion in 2014.
The management team previously sponsored BowX Acquisition, which completed its business combination with office space and coworking company WeWork (WE) in 2021, which filed for Chapter 11 bankruptcy in 2023.
Cal Redwood Acquisition was founded in 2025 and plans to list on the Nasdaq under the symbol CRAU. Cohen & Company Securities is the sole bookrunner on the deal.
