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Fintech and proptech-focused SPAC SilverSPAC files for a $250 million IPO

February 16, 2021

SilverSPAC, a blank check company targeting the proptech and fintech sectors, filed on Tuesday with the SEC to raise up to $250 million in an initial public offering.

The New York, NY-based company plans to raise $250 million by offering 25 million units at $10. Each unit will consist of one share of common stock and one-third of a warrant, exercisable at $11.50. At the proposed deal size, SilverSPAC will command a market value of $313 million.

The company is led by CFO and Chairman Tal Kerret and CEO and Director Charles Federman, who together co-founded Silvertech Ventures in 2015 and serve as Managing Members. SilverSPAC intends to concentrate on identifying businesses that provide technology and innovation solutions to the real estate and financial services industries, broadly referred to as the proptech and fintech sectors.

SilverSPAC was founded in 2021 and plans to list on the Nasdaq under the symbol SLVR.U. Goldman Sachs and Citi are the joint bookrunners on the deal.