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ESG-focused SPAC Seven Oaks Acquisition files for a $200 million IPO

December 1, 2020

Seven Oaks Acquisition, a blank check company focusing on business with good ESG practices, filed on Tuesday with the SEC to raise up to $200 million in an initial public offering.

The New York, NY-based company plans to raise $200 million by offering 20 million units at $10. Each unit will consist of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, Seven Oaks Acquisition will command a market value of $250 million. 

The company is led by CEO and Chairman Gary Matthews, who previously served as CEO of IES Holdings (Nasdaq: IESC) and was a Managing Director at Morgan Stanley Capital Partners. He is joined by CFO Andrew Pearson, who founded Soundview Advisors in 2019 after spending more than two-decades with General Atlantic. Seven Oaks Acquisition intends to focus on opportunities aiming to make a positive social impact with a specific emphasis on good Environmental, Social and Governance (ESG) practices.

Seven Oaks Acquisition was founded in 2020 and plans to list on the Nasdaq under the symbol SVOKU. The company filed confidentially on October 20, 2020. JonesTrading is the sole bookrunner on the deal.