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SPAC Jaws Hurricane Acquisition, led by Starwood's Barry Sternlicht, files for a $250 million IPO

February 25, 2021

Jaws Hurricane Acquisition, a sixth blank check company led by Starwood Capital founder Barry Sternlicht, filed on Thursday with the SEC to raise up to $250 million in an initial public offering.

The Miami Beach, FL-based company plans to raise $250 million by offering 25 million units at $10. Each unit consists of one share of common stock and one-fourth of a warrant, exercisable at $11.50. At the proposed deal size, Jaws Hurricane Acquisition would command a market value of $313 million.

The company is led by Chairman Barry Sternlicht, the founder and CEO of Starwood Capital and Starwood Property Trust (NYSE: STWD), and CEO and Director Matthew Walters, who has been a Principal at Jaws Estates Capital since 2015. The company expects to focus on consumer technology and related technology businesses that have attractive growth-oriented characteristics and strong underlying demand drivers, with either all or a substantial portion of business activities in North America.

Sternlicht's other SPACs include Jaws Wildcat Acquisition (WCATU), which filed concurrently with Jaws Hurricane; Jaws Juggernaut Acquisition (JUGGU), which filed earlier this month to raise $200 million; February 2021 IPO Jaws Mustang Acquisition (JWSM.U; +6% from $10 offer price); December 2020 IPO Jaws Spitfire Acquisition (SPFR.U; +14%); and May 2020 IPO Jaws Acquisition (JWS; +43%), which is pending a combination with value-based care delivery platform for seniors Cano Health.

Jaws Hurricane Acquisition was founded in 2021 and plans to list on the Nasdaq under the symbol HCNEU. It filed confidentially on February 2, 2021. Credit Suisse is the sole bookrunner on the deal.