Semiconductor-focused SPAC SPGL Acquisition files for a $250 million IPO

SPGL Acquisition, a blank check company formed by Summit and Gaas Labs targeting semiconductors, filed on Thursday with the SEC to raise up to $250 million in an initial public offering.

The Boston, MA-based company plans to raise $250 million by offering 25 million units at $10. Each unit will consist of one share of common stock and one-fifth of a warrant, exercisable at $11.50. At the proposed deal size, SPGL Acquisition will command a market value of $313 million.

The company is led by CEO and Director Jihye Whang Rosenband, who currently serves as Head of Transaction Related Activity at Gaas Labs. She is joined by Executive Chairman John Ocampo, who co-founded Gaas Labs and currently serves as President. SPGL Acquisition intends to focus on an initial business combination with companies in the technology sector, with a specific focus on the greater than $1 trillion dollar global semiconductor, components, and electronic systems market.

SPGL Acquisition was founded in 2021 and plans to list on the Nasdaq under the symbol SPGLU. Goldman Sachs and Deutsche Bank are the joint bookrunners on the deal.