Altimeter Growth Corp., a blank check company formed by Altimeter Capital targeting the tech sector, raised $450 million by offering 45 million units at $10.
To screen for upcoming or past SPAC IPOs, sign up for a free trial of IPO Pro.
Each unit consists of one share of common stock and one-fifth of a warrant, exercisable at $11.50; it originally filed to offer quarter-warrants before revising terms last week. The company may raise an additional $200 million at the closing of an acquisition pursuant to forward purchase agreements with Altimeter Capital and JS Capital.
The Menlo Park, CA-based company is led by CEO and Chairman Brad Gerstner, the founder and CEO of Altimeter Capital.
Altimeter Growth Corp. plans to list on the Nasdaq under the symbol AGCUU. Citi, Goldman Sachs and Morgan Stanley served as joint bookrunners on the deal.
