7GC & Co. Holdings, a blank check company formed by 7GC and Hennessy Capital targeting a tech business, filed on Monday with the SEC to raise up to $175 million in an initial public offering.
The San Francisco, CA-based company plans to raise $175 million by offering 17.5 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, 7GC & Co. will command a market value of $219 million.
The company is led by CEO and Chairman Jack Leeney, who is a Founding Partner of 7GC and previously served as Head of US Investing for Telefonica Ventures. He is joined by CFO and COO Christopher Walsh, who is currently a VP at 7GC and previously was a founding member at Empros Capital. Hennessy Capital Managing Partners Thomas Hennessy and Joseph Beck, who most recently served as Co-CEOs of recent IPO PropTech Investment II (PTICU), will serve as Directors.
7GC & Co. Holdings seeks to leverage the extensive SPAC experience and technology relationships of its officers, directors, and advisors with founders, venture capitalists, and growth equity managers to identify and partner with a high growth, cutting-edge technology business.
7GC & Co. Holdings was founded in 2020 and plans to list on the Nasdaq under the symbol VIIU. The company filed confidentially on October 23, 2020. Cantor Fitzgerald is the sole bookrunner on the deal.
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