RRE Ventures Acquisition, a blank check company affiliated with RRE Ventures targeting transformative sectors, raised $250 million by offering 25 million units at $10. Each unit consists of one share of common stock, and one-third of one warrant to purchase a share, exercisable at $11.50.
RRE Ventures Acquisition is led by Chairman Stuart Ellman, the co-founder and General Partner of RRE Ventures; CEO and Director Philip Kassin, who previously served as President and COO of RMG Capital, from which he brings SPAC leadership experience; and President and Director Jeffrey Epstein, the Managing Member of early-stage investment partnership 57O Investments.
The SPAC intends to target companies that have an aggregate enterprise value of approximately $800 million to $4.0 billion, that complement the management team’s and sponsor’s background in technology, defense and space, robotics, quantum computing, professional sports, AI, energy, power, and other transformative sectors.
The Boca Raton, FL-based company will trade on the Nasdaq under the symbol RREVU. Cohen & Company Securities acted as sole bookrunner on the deal.
