Education-focused SPAC Excolere Acquisition files for a $200 million IPO

Excolere Acquisition, a blank check company targeting the education and human capital management industries, filed on Wednesday with the SEC to raise up to $200 million in an initial public offering.

The Los Angeles, CA-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. At the proposed deal size, Excolere Acquisition will command a market value of $250 million.

The company is led by CEO and Chairman Anthony Miller, who is a Co-Founder and Managing Partner at Excolere Equity Partners. He is joined by CFO Jeffrey Glick, who founded consulting firm START U UP in 2011 and currently serves as its President, and COO and Director Peter Davis, who co-founded Excolere Equity Partners in 2019 alongside Anthony Miller and currently serves as an Advisor to Avathon Capital and Platform Ventures. Excolere Acquisition intends to focus on the education and human capital technology and services sectors in North America, targeting companies with aggregate enterprise values of $500 million to $2.5 billion.

Excolere Acquisition was founded in 2021 and plans to list on the Nasdaq under the symbol EXACU. UBS Investment Bank is the sole bookrunner on the deal.