CIIG Capital Partners II, the second blank check company formed by industry veterans targeting TMT, raised $250 million by offering 25 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. The company offered 2.5 million more units than anticipated. It originally planned to offer 30 million units before lowering the offering to 22.5 million units in July.
The company is led by Executive Chairman Peter Cuneo, Managing Principal of Cuneo & Company; Co-CEO and Director Gavin Cuneo, a Partner at Cuneo & Company; and Co-CEO and Director Michael Minnick, co-founder and Managing Partner IIG Holdings. CIIG Capital Partners II intends to focus its search in the technology, media, and telecommunications industries and on companies with sustainability business models that are enabled by technology.
CIIG Capital Partners II plans to list on the Nasdaq under the symbol CIIGU. UBS Investment Bank, Barclays, and LionTree acted as joint bookrunners on the deal.
