Technology SPAC Rodgers Silicon Valley Acquisition files for a $200 million IPO

Rodgers Silicon Valley Acquisition, a blank check company targeting a technology business in Silicon Valley, filed on Thursday with the SEC to raise up to $200 million in an initial public offering.

The Woodside, CA-based company plans to raise $200 million by offering 20 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, Rodgers Silicon Valley Acquisition will command a market value of $250 million. 

The company is led by CEO and Chairman Thurman Rodgers, who previously co-founded Cypress Semiconductor and served as CEO from its 1982 inception until 2016, and CFO Emmanuel Hernandez, who previously served as CFO of SunPower (Nasdaq: SPWR) and currently serves as Chairman of BrainChip (ASX: BRN). Rodgers Silicon Valley Acquisition's plans to target a Silicon Valley-based technology company with applications in the energy or industrial sectors.

Rodgers Silicon Valley Acquisition was founded in 2020 and plans to list on the Nasdaq under the symbol RSVAU. The company filed confidentially on October 14, 2020. Oppenheimer & Co. is the sole bookrunner on the deal.