PropTech-focused SPAC BOA Acquisition prices upsized $200 million IPO

BOA Acquisition, a blank check company led by the heads of Seligman Group and Foxhall Partners targeting real estate technology, raised $200 million by offering 20 million units at $10. The company offered 2.5 million more units than anticipated. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50. 

The company is led by Chairman Scott Seligman, who also serves as Chairman of The Seligman Group; CEO and CIO Brian Friedman, who currently serves as the Managing Partner of Foxhall Partners, as well as Founder and Partner at Friedman Capital; and CFO Benjamin Friedman, a former Director and Senior Trader at Citigroup Global Markets. BOA Acquisition intends to focus on businesses that provide technological solutions and innovation to the broader real estate industry, which management also refers to as "PropTech."

BOA Acquisition plans to list on the NYSE under the symbol BOASU. BTIG acted as a lead manager on the deal.