Inflection Point Acquisition VI, a blank check company led by Michael Blitzer targeting technology-enabled businesses, raised $220 million by offering 22 million units at $10. Each unit consists of one share of common stock and one-third of one warrant, exercisable at $11.50.
The company is led by Chairman Michael Blitzer, the founder and Co-CEO of Kingstown Capital Management. He is joined by CEO Kevin Shannon, the co-founder and Partner of Inflection Point Management. The SPAC plans to target North American and European businesses in disruptive growth sectors.
Management's previous SPACs include Inflection Point Acquisition III (IPCX; +2% from $10 offer price), which announced its plan to merge with atmospheric water generation machine maker Air Water Ventures this past August; Inflection Point Acquisition II, which merged with rare earth miner and explorer USA Rare Earth (USAR; +60%) this past March; and Inflection Point Acquisition, which merged with space exploration company Intuitive Machines (LUNR; +92%) in February 2023.
Inflection Point Acquisition VI plans to list on the Nasdaq under the symbol IPFXU. Cantor Fitzgerald acted as sole bookrunner on the deal.
