Tech-focused SPAC Falcon Peak Acquisition withdraws $250 million IPO

Falcon Peak Acquisition, a blank check company formed by TI Capital and Falcon Peak targeting tech-driven businesses, withdrew its plans for an initial public offering on Friday. It had filed to raise $250 million by offering 25 million units at $10.

The New York, NY-based company was founded in 2020 and had planned to list on the NYSE, though it had not selected a symbol yet (RC ticker: FALCU.RC). Cantor Fitzgerald was set to be the sole bookrunner on the deal.