Altimar Acquisition II, the second blank check company formed by HPS Investment Partners, filed on Wednesday with the SEC to raise up to $300 million in an initial public offering.
The New York, NY-based company plans to raise $300 million by offering 30 million units at $10. Each unit consists of one share of common stock and one-fourth of a warrant, exercisable at $11.50. At the proposed deal size, Altimar Acquisition II would command a market value of $375 million.
The company is led by CEO and Chairman Tom Wasserman and CFO Wendy Lai, both of whom currently serve as Managing Directors at HPS Investment Partners. While it has not selected a target industry, the company plans to focus on two characteristics as a common theme: a strong organic growth plan coupled with a compelling business model that is materially cash generative at maturity.
HPS Investment Partners' previous SPAC, Altimar Acquisition (ATAC; +10% from $10 offer price), went public in October 2020 and recently announced a merger agreement with Dyal Capital and Owl Rock Capital to form alternative asset manager Blue Owl at $12.5 billion market cap. HPS also co-founded and co-sponsored Trine Acquisition, which went public in March 2019 and completed its merger with Desktop Metal (DM; +149%) in December 2020.
Altimar Acquisition II was founded in 2020 and plans to list on the NYSE under the symbol ATMRU. The company filed confidentially on December 29, 2020. Goldman Sachs and J.P. Morgan are the joint bookrunners on the deal.
