Z-Work Acquisition, a blank check company targeting work technology businesses, raised $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50. Anchor investor P. Schoenfeld Asset Management had indicated on 9.9% of units in the offering.
The company is led by Executive Co-Chairman Doug Atkin, who co-founded Communitas Capital in 2017 and currently serves as Managing Partner; Executive Co-Chairman Chris Terrill, who previously served as CEO of ANGI Homeservices and HomeAdvisor; and CFO and President Adam Roston, who previously served as CEO of Bluecrew and IAC Publishing. Z-Work Acquisition intends to focus on high growth-potential, tech-driven, and tech-enabled targets that are disrupting and transforming the workplace.
Z-Work Acquisition plans to list on the Nasdaq under the symbol ZWRKU. Jefferies acted as a lead manager on the deal.
