TMT SPAC Spartacus Acquisition files for a $250 million IPO

Spartacus Acquisition, a blank check company targeting a TMT business, filed on Monday with the SEC to raise up to $250 million in an initial public offering.

The Duluth, GA-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-half of a warrant, exercisable at $11.50. At the proposed deal size, Spartacus Acquisition would command a market value of $313 million.

The company is led by CEO and Chairman Peter Aquino, the former CEO and Chairman of RCN, Internap, and Primus Telecommunications, and CFO Igor Volshteyn, who currently serves as the Interim COO and President of CCUR Holdings. The SPAC plans on leveraging its management team's experience and target the telecommunications, media, and technology (TMT) industry. 

Spartacus Acquisition was founded in 2020 and plans to list on the Nasdaq under the symbol TMTSU. The company filed confidentially on August 31, 2020. B. Riley FBR is the sole bookrunner on the deal.