Growth-focused SPAC Aequi Acquisition lowers proposed deal size by 33% ahead of $200 million IPO

Aequi Acquisition, a blank check company targeting data-centric, growth-oriented companies with established business models, lowered the proposed deal size for its upcoming IPO on Monday.

The Greenwich, CT-based company now plans to raise $200 million by offering 20 million units at $10. The company had previously filed to offer 30 million units at the same price. Each unit still consists of one share of common stock and one-third of a warrant, exercisable at $11.50. At the revised deal size, Aequi Acquisition will raise -33% less in proceeds than previously anticipated.

The company is led by Chairman and CEO Hope Taitz, who is currently CEO of ELY Capital and acts an investor and advisor for early stage companies, and CFO and Director Joy Seppala, who is the founder of value-driven investment fund SISU Capital. The SPAC plans to leverage its management team's experience to target data-centric, growth-oriented companies with established business models across a variety of industries, though it may focus on businesses driven by consumer demand and poised to benefit from evolving consumer preferences.

Aequi Acquisition was founded in 2020 and plans to list on the Nasdaq under the symbol ARBGU. RBC Capital Markets and BofA Securities are the joint bookrunners on the deal.