Renaissance Capital logo

Growth-focused SPAC GSR II Meteora Acquisition prices $275 million IPO, led by former SPAC heads at BofA and Oppenheimer

February 25, 2022

GSR II Meteora Acquisition, a blank check company backed by Meteora Capital targeting high-growth businesses, raised $275 million by offering 27.5 million units at $10. Each unit consists of one share of common stock, one-sixteenth of a right to receive one share at the closing of the business combination, and one warrant exercisable at $11.50.

The company is led by co-CEO and Director Gus Garcia, the former Head of SPAC M&A for Bank of America; co-CEO and Director Lewis Silberman, the former Head of SPAC Equity Capital Markets for Oppenheimer & Co.; President and Director Anantha Ramamurti, a former Managing Director and Head of Global Mobility Group at Bank of America Securities; and CFO Joseph Tonnos, a Principal and Associate Portfolio Manager at Meteora Capital. Additionally, Silberman, Garcia, and Ramamurti are all co-founders and Partners of consulting and financial-advisory business SPAC Advisory Partners, LLC.

The three lead executives also hold director or officer positions at Graf Acquisition II (GTOO.U) and III (GRAF.U), both of which are on file for US IPOs, and Graf Acquisition IV (GFOR.U; -1%), which went public in May 2021.

The SPAC plans to target high-growth businesses in the software, technology-enabled manufacturing and services, mobility, and transportation sectors, as well as those that help to address evolving environmental, social and governance (ESG) related issues.

GSR II Meteora Acquisition plans to list on the Nasdaq under the symbol GSRMU. Oppenheimer & Co. acted as sole bookrunner on the deal.