Osprey Technology Acquisition II, the third blank check company led by Edward and Jonathan Cohen targeting the tech industry, filed on Monday with the SEC to raise up to $325 million in an initial public offering.
The Philadelphia, PA-based company plans to raise $325 million by offering 32.5 million units at $10. Each unit consists of one share of common stock and one-fourth of one warrant, exercisable at $11.50. At the proposed deal size, Osprey Technology Acquisition would command a market value of $406 million.
The company is led by Co-Chairmen Edward and Jonathan Cohen, who serve as Chairman and CEO, respectively, of private investment firm HEPCO Capital Management. The Cohens' previous SPACs include Osprey Technology Acquisition (SFTW; +15% from $10 offer price), which raised $275 million in October 2019 and is pending an acquisition of geospatial intelligence provider BlackSky, and Osprey Energy Acquisition, which completed its combination in August 2018 by acquiring the assets of Blackstone's Royal Resources and forming Falcon Minerals (FLMN; -55%). Osprey Technology Acquisition II intends to focus on opportunities in the technology sector, particularly companies that have developed or are developing technology-driven, disruptive products or services.
Osprey Technology Acquisition II was founded in 2020 and plans to list on the NYSE under the symbol OTII.U. Credit Suisse is the sole bookrunner on the deal.
