OTG Acquisition I, a blank check company formed by XIP targeting digital infrastructure services, raised $200 million by offering 20 million units at $10. Each unit contains one share of common stock and one-half of one warrant, exercisable at $11.50.
OTG Acquisition I is led by CEO and Director Scott Troeller, co-founder and Managing Partner of Expedition Infrastructure Partners (XIP), a firm that seeks to accelerate private investment into the next generation of infrastructure markets and adjacent ecosystems. The SPAC plans to target sectors whose growth is primarily driven by the expansion of data centers, digital infrastructure, power generation, communication technology, and their related ecosystems, which it refers to as the "digital infrastructure services" sector.
OTG Acquisition I plans to list on the Nasdaq under the symbol OTGAU. B. Riley Securities, Northland Securities, and Lake Street Capital Markets acted as joint bookrunners on the deal.
