Asia-focused SPAC Seven Islands files for a $300 million IPO

Seven Islands, a blank check company targeting businesses in South and Southeast Asia, filed on Tuesday with the SEC to raise up to $300 million in an initial public offering.

The New York, NY-based company plans to raise $300 million by offering 30 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, Seven Islands would command a market value of $375 million.

The company is led by Co-Chairman James Murdoch, the founder of innovation-focused private holding company Lupa Systems and former CEO of 21st Century Fox, and Co-Chairman Uday Shankar, whose previous roles include CEO of Star India, President of 21st Century Fox Asia, and President of The Walt Disney Company Asia Pacific. The company plans to target the media, entertainment, consumer technology, healthcare, and education industries in South and Southeast Asia, with a particular focus on India.

Seven Islands was founded in 2021 and plans to list on the Nasdaq under the symbol SVNIU. Goldman Sachs (Asia), J.P. Morgan and PJT Partners are the joint bookrunners on the deal.