SPAC Falcon Acquisition files for a $250 million IPO, targeting tech-driven businesses

Falcon Acquisition, a blank check company formed by TI Capital and Falcon Peak targeting tech-driven businesses, filed on Thursday with the SEC to raise up to $250 million in an initial public offering.

The New York, NY-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-third of a warrant, exercisable at $11.50. At the proposed deal size, Falcon Acquisition would command a market value of $313 million.

The company is led by Chairman Thomas Barrack, the founder and Executive Chairman of Colony Capital, and CEO and Director Ziad Ghandour, the founder and Principal of multinational investment firm TI Capital Management. The company plans to target "the dis-intermediators," which it defines as forward-thinking and technology-driven businesses leading the disruption across the legacy incumbents, focusing on those across the media & entertainment, technology, financial services, wellness, infrastructure, and real estate industries.

Falcon Acquisition was founded in 2020 and plans to list on the NYSE. It has not selected a symbol yet (RC ticker: FALCU.RC). The company filed confidentially on October 13, 2020. Cantor Fitzgerald is the sole bookrunner on the deal.