Consumer tech SPAC Moose Pond Acquisition, NCV I withdraws $200 million IPO

Moose Pond Acquisition, NCV I, a blank check company backed by Next Coast Ventures targeting consumer technology, withdrew its plans for an initial public offering on Friday. It had filed in March 2021 to raise $200 million by offering 20 million units at a price of $10, with each unit containing one share of common stock and one-third of a warrant, exercisable at $11.50.

The company was set to be led by CEO and Director Cotter Cunningham and Chairman Brian Sharples, who both serve as advisors to Next Coast Ventures.

The Austin, TX-based company was founded in 2021, and had planned to list on the Nasdaq under the symbol MOOSU. Credit Suisse was set to be the sole bookrunner on the deal.