10X Capital Venture Acquisition, a blank check company formed by 10X Capital targeting a tech-enabled business, filed on Friday with the SEC to raise up to $220 million in an initial public offering.
The New York, NY-based company plans to raise $220 million by offering 22 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 deal size, 10X Capital Venture Acquisition would command a market value of $275 million.
The company is led by CEO and Chairman Hans Thomas, founder and CEO of venture firm 10X Capital, and COO and Director David Weisburd, founder of venture firm Growth Technology Partners, which was acquired in 2019 by 10X Capital, where he now serves as General Partner and co-head of venture capital. The company plans to target high growth technology and tech-enabled businesses in the consumer internet, ecommerce, software, healthcare, and financial services industries, among others.
10X Capital Venture Acquisition was founded in 2020 and plans to list on the Nasdaq under the symbol VCVCU. The company filed confidentially on August 25, 2020. Cantor Fitzgerald is the sole bookrunner on the deal.
