Range Capital Acquisition, a blank check company targeting overlooked and capital-constrained sectors, raised $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.
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 plans to list on the Nasdaq under the symbol RANGU. EarlyBirdCapital acted as sole bookrunner on the deal.
