Barrry Sternlicht's second SPAC Jaws Spitfire Acquisition files for a $250 million IPO

Jaws Spitfire Acquisition, the second blank check company led by Starwood Capital founder Barry Sternlicht, filed on Tuesday with the SEC to raise up to $250 million in an initial public offering.

The Miami Beach, FL-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-fourth of a warrant, exercisable at $11.50. At the proposed deal size, Jaws Spitfire Acquisition would command a market value of $313 million.

The company is led by Chairman Barry Sternlicht, founder and CEO of Starwood Capital, and CEO and Director Matthew Walters, who is currently a Principal at JAWS Estates Capital. Sternlicht's previous SPAC, Jaws Acquisition (JWSU), raised $600 million this past March and is pending a combination with value-based care delivery platform for seniors Cano Health. Jaws Spitfire Acquisition intends to focus on consumer technology and related technology businesses that have attractive growth-oriented characteristics and strong underlying demand drivers, preferably located in North America or Europe. 

The Miami Beach, FL-based company was founded in 2020 and plans to list on the NYSE under the symbol SPFR.U. Credit Suisse is the sole bookrunner on the deal.