Pacific Century and Thiel Capital's second SPAC Bridgetown 2 Holdings prices $260 million IPO

Bridgetown 2 Holdings, the second blank check company formed by Pacific Century and Thiel Capital targeting new economy sectors in Southeast Asia, raised $260 million by offering 26 million shares at $10.Unlike most SPACs, the company did not offer units with warrants attached.

The company is led by CEO, CFO, and Director Daniel Wong, who serves as SVP of Pacific Century Group, and Chairman Matt Danzeisen, who is Head of Private Investments at Thiel Capital, an investment firm founded by his husband Peter Thiel. Directors include former Y Combinator President and current OpenAI CEO Sam Altman, RRE Ventures Partner Jay Hass, and LINE Corp CFO In Joon Hwang. The team's previous SPAC, Bridgetown Holdings (BTWNU; +56% from $10 offer price), raised $550 million in October 2020 and was reported earlier this month to be exploring a $10 billion acquisition of Tokopedia. Bridgetown 2 Holdings plans on targeting a company in Southeast Asia with operations or prospective operations in the technology, financial services, or media sectors.

Bridgetown 2 Holdings plans to list on the Nasdaq under the symbol BTNB. Citi and BTIG acted as lead managers on the deal.