Twist Investment, a blank check company formed by the founder of Twist Capital targeting the tech sector, filed on Thursday with the SEC to raise up to $175 million in an initial public offering.
The Beverly Hills, CA-based company plans to raise $175 million by offering 17.5 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50. At the proposed deal size, Twist Investment would command a market value of $219 million.
The company is led by CEO and Chairman Sean Madnani, the founder and CEO of tech-focused merchant bank Twist Capital and a former Senior Managing Director at Guggenheim Securities. The company plans to leverage management's experience and target the technology sector, focusing on businesses developing core elements of a Technology Delivery System that are at the forefront of innovation. Additionally, it plans to focus on businesses in North America with enterprise values between $500 million and $2.5 billion.
Twist Investment was founded in 2021 and plans to list on the NYSE under the symbol TWIC.U. Deutsche Bank is the sole bookrunner on the deal.
