CLAS is now in session: Edtech SPAC Class Acceleration Corp files for a $225 million IPO

Class Acceleration Corporation, a blank check company led by venture investor Michael Moe targeting digital education, filed on Wednesday with the SEC for an initial public offering.

The Woodside, CA-based company plans to raise $225 million by offering 22.5 million units at a price of $10. There it would command a market value of $281 million. Units consist of one share of common stock and one-half of a warrant, exercisable at $11.50.

The SPAC is led by CEO and Director Michael Moe, the founder and CEO of GSV Asset Management and an advisor to GSV Ventures, which has invested in startups like Coursera and Course Hero; Moe previously served as founder and CEO of ThinkEquity Partners from 2001 to 2008. He is joined by co-Executive Chairman Joseph Parsons, who previously served as an advisor to Bridgewater Associates and led four divisions within GE Capital, and co-Executive Chairman Robert Daugherty, the Dean of ASU's online business school FSTB.

The Woodside, CA-based company was founded in 2020 and plans to list on the NYSE under the symbol CLAS.U. Class Acceleration Corp. filed confidentially on October 13, 2020. Oppenheimer & Co. is the sole bookrunner on the deal.