Crucible Acquisition II, a blank check company formed by Foundry Group and a former Splunk executive targeting software, filed on Friday with the SEC to raise up to $200 million in an initial public offering.
The Louisville, CO-based company plans to raise $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one-fourth of a warrant, exercisable at $11.50. At the proposed deal size, Crucible Acquisition II would command a market value of $250 million.
The company is led by Chairman Brad Feld, who is a Founding Partner of Foundry Group, and CEO and Director James Lejeal, the former Area Vice President and General Manager for the Incident Management unit of Splunk (SPLK). The company plans to target businesses in the software technology industry with enterprise values between $700 million and $1.5 billion, prioritizing cloud-based recurring revenue business models.
Crucible Acquisition II was founded in 2021 and plans to list on the NYSE under the symbol CRUA.U. Credit Suisse is the sole bookrunner on the deal.
