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Software and technology SPAC Thimble Point Acquisition files for a $200 million IPO

January 15, 2021

Thimble Point Acquisition, a blank check company targeting high-growth software and technology, filed on Friday with the SEC to raise up to $200 million in an initial public offering.

The New Haven, CT-based company plans to raise $200 million by offering 20 million units at $10. Each unit will consist of one share of common stock and one-half of a warrant, exercisable at $11.50. The company may also raise an additional $50 million at the closing of an acquisition pursuant to a forward purchase agreement with anchor investor KLP SPAC 1. At the proposed deal size, Thimble Point Acquisition will command a market value of $250 million.

The company is led by CEO and Chairman Elon Boms, who currently serves as the Managing Director of the Pritzker Vlock Family Office. He is joined by CFO Joseph Iannotta, who is the Controller of the Pritzker Vlock Family Office. Thimble Point Acquisition intends to focus on high-growth software and technology-enabled companies that are disrupting large and established industries and markets.

Thimble Point Acquisition was founded in 2020 and plans to list on the Nasdaq under the symbol THMAU. It filed confidentially on December 15, 2020. Citi and Credit Suisse are the joint bookrunners on the deal.