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Marlin Equity Partners' SPAC Marlin Technology Corp. files for a $300 million IPO

November 24, 2020

Marlin Technology Corp., a blank check company formed by Marlin Equity Partners targeting the technology sector, filed on Tuesday with the SEC to raise up to $300 million in an initial public offering.

The Hermosa Beach, CA-based company plans to raise $300 million by offering 30 million units at a price of $10. Each unit will consist of one share of common stock and one-third of a warrant, exercisable at $11.50. At the proposed deal size, Marlin Technology will command a market value of $375 million. 

The company is led by Chairman Pete Spasov and CEO Nick Kaiser, who have both served as Senior Managing Directors at Marlin Equity Partners since 2005. Marlin Technology plans to target companies in the technology sector with enterprise valuations between $1.5 billion to $3.0 billion.

Marlin Technology Corp. was founded in 2020 and plans to list on the Nasdaq under the symbol FINU. The company filed confidentially on September 21, 2020. UBS Investment Bank and Jefferies are the joint bookrunners on the deal.