SPAC Revelstone Capital Acquisition prices $150 million IPO, targeting consumer, media, and tech

Revelstone Capital Acquisition, a blank check company led by the founders of Revelstone Capital, raised $150 million by offering 15 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. Anchor investors had indicated on $150 million worth of units in the offering (100% of the deal).

The company is led by Co-CEOs Morgan Callagy and Daniel Neukomm, founders and Partners of Revelstone Capital. The company plans to target businesses in the consumer, media, and/or technology sectors that leverage D2C engagement as their primary go-to-market channels.

Revelstone Capital Acquisition plans to list on the Nasdaq under the symbol RCACU. BofA Securities and Roth Capital acted as joint bookrunners on the deal.