Seven Oaks Acquisition II, a blank check company targeting firms with strong ESG practices, filed on Friday with the SEC to raise up to $250 million.
The company plans to offer 25 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed price, Seven Oaks Acquisition II would command a market cap of $313 million.
The company is led by CEO and Chairman Gary Matthews, a Managing Partner of Tamarix Capital Management and its private equity fund Tamarix Equity Partners, and CFO Andrew Pearson, who founded Soundview Advisors in 2019 after spending more than two-decades with General Atlantic. Seven Oaks Acquisition II intends to focus on opportunities aiming to make a positive social impact with a specific emphasis on good environmental, social, and governance (ESG) practices.
Management’s previous SPAC, Seven Oaks Acquisition, completed its combination with bulk online retailer Boxed (BOXD; -3% from $10 offer price) in December 2021.
The New York, NY-based company was founded in 2021 and plans to list on the Nasdaq under the symbol SVOBU. JonesTrading is the sole bookrunner on the deal.
