Investindustrial Acquisition, a blank check company formed by Investindustrial, filed on Tuesday with the SEC to raise up to $350 million in an initial public offering.
The London, UK-based company plans to raise $350 million by offering 35 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50. The company may raise an additional $250 million at the closing of an acquisition pursuant to a forward purchase agreement with its sponsor. At the proposed deal size, Investindustrial Acquisition would command a market value of $438 million.
The company is led by CEO and Director Roberto Ardagna, who currently leads the team focused on companies with high growth potential at Investindustrial, which he joined in 2010. Ardagna is joined by CFO Andrea Cicero, who currently serves as a Principal at Investindustrial. The SPAC plans to leverage its management team's experience and target businesses in the consumer, healthcare, industrial, and tech sectors with enterprise values between $1 billion and $5 billion.
Investindustrial Acquisition was founded in 2020 and plans to list on the NYSE under the symbol IIAC.U. Deutsche Bank and Goldman Sachs are the joint bookrunners on the deal.
