Osprey Technology Acquisition, the second blank check company led by Edward and Jonathan Cohen targeting the tech industry, filed on Friday with the SEC to raise up to $250 million in an initial public offering.
The Philadelphia, PA-based company plans to raise $250 million by offering 25 million units at $10, where it would command a market value of $313 million. Each unit consists of one share of common stock and one-half of one warrant exercisable at $11.50.
The Cohens' first blank check company, Osprey Energy Acquisition, completed its initial business combination in August 2018 by acquiring the assets of Blackstone's Royal Resources and forming Falcon Minerals (FLMN). Now the pair is focusing on opportunities in the technology sector, particularly companies pursuing a SaaS model.
The Philadelphia, PA-based company was founded in 2018 and plans to list on the NYSE under the symbol SFTW.U. Osprey Technology Acquisition filed confidentially on September 28, 2018. Credit Suisse is the sole bookrunner on the deal.
