Industrial tech SPAC Anzu Special Acquisition I raises deal size by 40% ahead of $350 million IPO

Anzu Special Acquisition I, a blank check company targeting transformative technologies for industrial applications, raised the proposed deal size for its upcoming IPO on Friday.

The Tampa, FL-based company now plans to raise $350 million by offering 35 million units at a price $10. The company had previously filed to offer 25 million units at the same price. Each unit will now consist of one share of common stock and one-third of a warrant, exercisable at $11.50. Units previously contained one-half warrants. At the revised deal size, Anzu Special Acquisition I will raise 40% more in proceeds than previously anticipated.

The company is led by Chairman William Wulfsohn, who previously served as CEO and Chairman of Ashland Global Holdings from 2015 to 2019; CEO and Director Whitney Haring-Smith, who has served as Co-Founder and Managing Partner at Anzu Partners since 2015; and CFO John Joy, who previously served as VP of Corporate Development at Ashland from 2008 to 2020. Anzu Special Acquisition I intends to concentrate its efforts in identifying high-quality businesses with transformative technologies for industrial applications.

Anzu Special Acquisition I was founded in 2020 and plans to list on the Nasdaq under the symbol ANZU.U. BofA Securities and Barclays are the joint bookrunners on the deal.