SPAC Global Partner Acquisition II files for a $250 million IPO

Global Partner Acquisition II, a blank check company targeting consumer, e-commerce, and retail disruptors, filed on Monday with the SEC to raise up to $250 million in an initial public offering.

The Rye Brook, NY-based company plans to raise $250 million by offering 25 million units at $10. Each unit consists of one share of common stock, one-sixth of a warrant exercisable at $11.50, and one right to receive one-sixth of a warrant following the initial business combination redemption time. At the proposed deal size, Global Partner Acquisition II would command a market value of $313 million.

The company is led by CEO and Chairman Paul Zepf, who previously served as Managing Director of TowerBrook Capital Partners and Managing Director and Head of Strategic Initiatives at Golub Capital. The company plans to target industries in the consumer, food, branded products, e-commerce and retail disruptors and consumerization of healthcare, as well as certain service sectors and the technology underlying and driving changes across these sectors and related industries. It plans to focus on businesses with enterprise values between $1 billion and $3 billion.

Zepf's previous SPAC, Global Partner Acquisition, went public in July 2015 and completed its acquisition of DTC mattress maker Purple Innovation (Nasdaq: PRPL; +111% from $10 offer price) in February 2018.

Global Partner Acquisition II was founded in 2020 and plans to list on the Nasdaq under the symbol GPACU. UBS Investment Bank and RBC Capital Markets are the joint bookrunners on the deal.