Deep tech-focused SPAC Alchemy Investments Acquisition 1 files for a $100 million IPO

Alchemy Investments Acquisition 1, a blank check company targeting deep technology with a focus on data analytics, filed on Friday with the SEC to raise up to $100 million in an initial public offering.

The company plans to raise $100 million by offering 10 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 deal size, Alchemy Investments Acquisition 1 would command a market value of $141 million.

The company is led by Chairman Steven Wasserman, a Principal of MSP Sports Capital, and co-CEOs Mattia Tomba and Vittorio Savoia, who also co-founded Alchemy Investment Management, where they serve as Managing Partners. The SPAC seeks to leverage management's experience and target deep technology with a focus on data analytics. This includes possible applications to a variety of industries, such as energy, agriculture, telecommunications, financial services, aerospace, logistics, and pharmaceuticals.

The Newark, DE-based company was founded in 2021 and plans to list on the Nasdaq under the symbol ALCYU. Cantor Fitzgerald is the sole bookrunner on the deal.