SPAC BYTE Acquisition prices $300 million IPO, targeting tech in Israel

BYTE Acquisition, a blank check company targeting the Israeli technology industry, raised $300 million by offering 30 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50.

The company is led by Executive Chairman Kobi Rozengarten, the CEO of Rozengarten Management and a former Managing Partner at Jerusalem Venture Partners, and CEO and Director Danny Yamin, a former VP of Microsoft. The company plans to target the Israeli technology industry, including cybersecurity, automotive technology, fintech, enterprise software, and cloud computing, among other focus areas.

BYTE Acquisition plans to list on the Nasdaq under the symbol BYTSU. Citi acted as a lead manager on the deal.