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TMT-focused SPAC CIIG Merger files for a $225 million IPO

November 25, 2019
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CIIG Merger, a blank check company formed by industry veterans to acquire a technology, media, or telecom company, filed on Monday with the SEC to raise up to $225 million in an initial public offering.

The New York, NY-based company plans to raise $225 million by offering 22.5 million units at $10 where it would command a market value of $281 million. Each unit consists of one share of common stock and one-half of one warrant exercisable at $11.50.

CIIG Merger was founded in 2019 and plans to list on the Nasdaq under the symbol CIICU. CIIG Merger filed confidentially on October 24, 2019. UBS Investment Bank and Barclays are the joint bookrunners on the deal.