EdtechX Holdings Acquisition II, the second blank check company formed by IBIS Capital to acquire an education technology business, filed on Monday with the SEC to raise up to $150 million in an initial public offering.
The London, UK-based company plans to raise $150 million by offering 15 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, EdtechX Holdings Acquisition II would command a market value of $188 million.
The company is led by Chairman and CIO Charles McIntyre, co-founder and CEO of investment and advisory firm IBIS Capital, and CEO and Director Benjamin Vedrenne-Cloquet, an Operating Partner at IBIS Capital. The company plans to target businesses in the education, training, re-skilling, human capital, and education technology industries with enterprise values between $400 million and $2 billion.
IBIS Capital's previous SPAC, EdtechX Holdings Acquisition, went public in October 2018 and completed its merger with Meten Education in March 2020 to form Meten EdtechX Education Group (METX; -38% from $10 offer price).
EdtechX Holdings Acquisition II was founded in 2020 and plans to list on the Nasdaq under the symbol EDTXU. The SPAC filed confidentially on July 10, 2020. Jefferies is the sole bookrunner on the deal.
