John Delaney's SPAC Revolution Acceleration Acquisition II files for a $250 million IPO

Revolution Acceleration Acquisition II, a blank check company focusing on innovation, government policy, and regulation, filed on Monday with the SEC to raise up to $250 million in an initial public offering.

The Washington, DC-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, Revolution Acceleration Acquisition II would command a market value of $333 million.

The company is led by its sole executive CEO and Director John Delaney, a former member of the US House of Representatives and co-founder and former CEO of CapitalSource (NYSE: CSE) and HealthCare Financial Partners (NYSE: HCF). Delaney's previous SPAC, Revolution Acceleration Acquisition (RAAC; +6% from $10 offer price), went public this past December and has a pending merger agreement with AI robotic solution provider Berkshire Grey.

Revolution Acceleration Acquisition II plans to target companies that are uniquely positioned to capitalize on the opportunities that can be unlocked by the convergence of innovation, government policy, and regulation.

Revolution Acceleration Acquisition II was founded in 2021 and plans to list on the Nasdaq under the symbol RAIIU. Credit Suisse is the sole bookrunner on the deal.