Range Capital Acquisition, a blank check company targeting overlooked and capital-constrained sectors, filed on Wednesday with the SEC to raise up to $100 million in an initial public offering.
The Cold Spring Harbor, NY-based company plans to raise $100 million by offering 10 million units at $10. Each unit consists of one share of common stock and one right to receive one-tenth of a share upon the completion of an initial business combination. At the proposed deal size, Range Capital Acquisition would command a market value of $140 million.
Range Capital Acquisition is led by CEO, CFO, and Chairman Tim Rotolo, whose current roles include serving as founder and CEO of SEC investment advisor Lloyd Harbor Capital Management and Range Fund Holdings, an investment platform for ETF asset managers. The SPAC plans to target sectors that are capital constrained, overlooked, or out of favor, such as energy, nuclear energy, defense tech, specialty finance, and women's health. It plans to focus on pure play businesses with scarce assets and powerful narratives, among other qualitative factors, that are in the North American market with enterprise values of $500 million or greater.
Range Capital Acquisition was founded in 2024 and plans to list on the Nasdaq under the symbol RANGU. The company filed confidentially on October 4, 2024. EarlyBirdCapital is the sole bookrunner on the deal.
