Seven Oaks Acquisition II, a blank check company targeting firms with strong ESG practices, withdrew its plans for an initial public offering on Tuesday. It had filed this past February to raise $250 million by offering 25 million units at $10, with each unit containing one share of common stock and one-half of a warrant.
The company was set to be led by CEO and Chairman Gary Matthews, a Managing Partner of Tamarix Capital Management and its private equity fund Tamarix Equity Partners. Management's previous SPAC, Seven Oaks Acquisition, completed its combination with bulk online retailer Boxed (BOXD; -90% from $10 offer price) in December 2021.
The New York, NY-based company was founded in 2021 and had planned to list on the Nasdaq under the symbol SVOBU. JonesTrading was set to be the sole bookrunner on the deal.
