Altimeter Growth Corp. 2, the second blank check company formed by Altimeter Capital targeting the tech sector, filed on Thursday with the SEC to raise up to $200 million in an initial public offering.
The Menlo Park, CA-based company plans to raise $200 million by offering 20 million shares at $10. Unlike an ordinary SPAC, the company is not offering units with warrants attached. The company plans to enter into a forward purchase agreement with an affiliate of Altimeter prior to the closing of the offering. At the proposed deal size, Altimeter Growth Corp. 2 would command a market value of $256 million.
The company is led by CEO and Chairman Brad Gerstner, the founder and CEO of Altimeter Capital. He is joined by General Counsel Hab Siam, who currently serves as General Counsel and CCO of Altimeter. The company plans to target a business in a secular-growth area of the tech sector, focusing on those that will compound growth over the long-term for exponential value creation.
Altimeter Growth Corp. 2 was founded in 2020 and plans to list on the NYSE under the symbol AGCB. The company filed confidentially on December 4, 2020. Citi, Goldman Sachs, and Morgan Stanley are the joint bookrunners on the deal.
