Software Acquisition Group II, the second blank check company led by former Ooyala officers targeting a software company, filed on Friday with the SEC to raise up to $150 million in an initial public offering.
The Las Vegas, NV-based company plans to raise $150 million by offering 15 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 price, Software Acquisition Group II would command a market value of $188 million.
The company is led by CEO, CFO, and Chairman Jonathan Huberman, who has previously served as CEO of Ooyala, Syncplicity, and Tiburon; and VP of Acquisitions Mike Nikzad, who has previously served as COO and President of Ooyala and COO of NewNet Communication Technologies and Syncplicity. The pair's previous SPAC, Software Acquisition Group (SAQN), went public in November 2019 and recently announced a merger agreement with streaming platform CuriosityStream.
Software Acquisition Group II was founded in 2020 and plans to list on the Nasdaq under the symbol SAIIU. The company filed confidentially on July 13, 2020. B. Riley FBR is the sole bookrunner on the deal.
