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Tech-focused SPAC FirstMark Acquisition II files for a $200 million IPO

March 12, 2021
FMIIU.RC

FirstMark Acquisition II, the second blank check company formed by FirstMark Capital targeting technology, filed on Friday with the SEC to raise up to $200 million in an initial public offering.

The New York, NY-based company company plans to raise $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one-fifth of a warrant, exercisable at $11.50. At the proposed deal size, FirstMark Acquisition II would command a market value of $250 million. 

The company is led by CEO and Director Richard Heitzmann and Chairman and President Amish Jani, who co-founded venture firm FirstMark Capital in 2008 and serve as Partners. The group's previous SPAC, FirstMark Horizon Acquisition (FMAC.U; +10% from %10 offer price), raised $360 million in October of last year. FirstMark Acquisition II intends to focus its search on target businesses in the technology industry.

FirstMark Acquisition II was founded in 2021 and plans to list on the NYSE. The company has not yet chosen a ticker (RC ticker: FMIIU.RC). Credit Suisse is the sole bookrunner on the deal.