Israel Amplify Program, a blank check company backed by Pitango, Amplify, and Sphera targeting technology in Israel, withdrew its plans for an initial public offering on Wednesday. It had filed to raise $200 million by offering 20 million units at $10, with each unit containing one share of common stock and one-fifth of a warrant, exercisable at $11.50.
The company was set to be led by Chairman Chemi Peres, a co-founder and Managing General Partner of Pitango Venture Capital, and CEO Asher Levy, a co-founder and Limited Partner at Amplify-Israel and former CEO of Orbotech (Nasdaq: ORBK).
The New York, NY-based company was founded in 2021 and had planned to list on the NYSE under the symbol ISAP.U. Cowen was set to be the sole bookrunner on the deal.
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