ACON S2 Acquisition, a blank check company formed by ACON Investments targeting a sustainable business, filed on Monday with the SEC to raise up to $250 million in an initial public offering.
The Washington, DC-based company plans to raise $250 million by offering 25 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50. At the proposed price, ACON S2 Acquisition would command a market value of $313 million.
The company is led by CEO and Director Adam Kriger, an Executive Partner in ACON Investments' private equity group and former SVP of Corporate Strategy for The McDonald's Corporation, and CFO and Chairman John Roush, an executive advisor to ACON Investments and former President of PerkinElmer's environmental business. The company plans to target a business that employs a strategic approach to sustainability, environmental, social and/or economic, with an overall transaction value between $500 million and $2 billion.
ACON S2 Acquisition was founded in 2020 and plans to list on the Nasdaq under the symbol STWOU. ACON S2 Acquisition filed confidentially on July 31, 2020. Deutsche Bank, Cowen and Stifel are the joint bookrunners on the deal.
