Financial industry veteran's second SPAC Rocket Global Acquisition files for a $100 million IPO

Rocket Global Acquisition, the second blank check company formed by the Managing Partner of Broadband Capital Partners, filed on Wednesday with the SEC to raise up to $100 million in an initial public offering.

The New York, NY-based company plans to raise $100 million by offering 10 million shares at $10. Unlike most SPACs, warrants will not be attached to the common shares. At the proposed deal size, Rocket Global Acquisition will command a market value of $125 million.

The company is led by CEO, CFO, and Chairman Philip Wagenheim, who serves as Managing Partner of Broadband Capital Partners and previously co-founded Broadband Capital Management in 2000. Wagenheim's other SPAC, Just Another Acquisition (JAAC), filed in February to raise $60 million. Rocket Global Acquisition intends to target businesses with enterprise values of $500 million to $2.5 billion.
 
Rocket Global Acquisition was founded in 2021 and plans to list on the Nasdaq under the symbol RGAC. Ladenburg Thalmann is the sole bookrunner on the deal.