Israel Amplify Program, a blank check company backed by Pitango, Amplify, and Sphera targeting technology in Israel, filed on Friday with the SEC to raise up to $200 million in an initial public offering.
The New York, NY-based company plans to raise $200 million by offering 20 million units at $10. Each unit will consist of one share of common stock and one-fifth of a warrant, exercisable at $11.50. The anchor investor has expressed interest in purchasing up to 9.8% of the offering. The company may also raise an additional $45 million pursuant to a forward purchase agreement with Sphera that will close concurrently with the initial business combination. At the proposed deal size, Israel Amplify Program will command a market value of $250 million.
The company is led by Chairman Chemi Peres, who has been Managing General Partner and Co-Founder of Pitango Venture Capital since 1996. He is joined by CEO Asher Levy, who serves as Co-Founder and Limited Partner at Amplify-Israel and previously was CEO of Orbotech (Nasdaq: ORBK). Israel Amplify Program will focus on high-quality, growing technology-based opportunities located in, or that have a meaningful connection to, Israel.
Israel Amplify Program was founded in 2021 and plans to list on the NYSE under the symbol ISAP.U. Cowen is the sole bookrunner on the deal.
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