TMT SPAC 890 5th Avenue Partners files for a $250 million IPO

890 5th Avenue Partners, a blank check company targeting the technology, media, and telecommunications sectors, filed on Wednesday with the SEC to raise up to $250 million in an initial public offering.

The Rye, NY-based company plans to raise $250 million by offering 25 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, 890 5th Avenue Partners would command a market value of $320 million.

The company is led by Executive Chairman Adam Rothstein, co-founder and General Partner of Disruptive Technology Partners, and CEO and Director Emiliano Calemzuk, who currently serves as Lead Independent Director of MercadoLibre (Nasdaq: MELI) and previously co-founded and served as CEO of media venture RAZE. The company plans to target businesses in the technology, media, and telecommunications sectors with enterprise values between $750 million and $2 billion.

890 5th Avenue Partners was founded in 2020 and plans to list on the Nasdaq under the symbol ENFAU. The company filed confidentially on November 3, 2020. Cowen and Craig-Hallum Capital Group are the joint bookrunners on the deal.