TMT SPAC 890 5th Avenue Partners prices $250 million IPO

890 5th Avenue Partners, a blank check company targeting the technology, media, and telecommunications sectors, raised $250 million by offering 25 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50.

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 plans to list on the Nasdaq under the symbol ENFAU. Cowen and Craig-Hallum Capital Group acted as lead managers on the deal.