Omnichannel Acquisition, a blank check company targeting omnichannel consumer and retail businesses, filed on Tuesday with the SEC to raise up to $350 million in an initial public offering.
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The Summit, NJ-based company plans to raise $350 million by offering 35 million units at a price of $10. Each unit will consist of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, Omnichannel Acquisition will command a market value of $438 million.
The company is led by CEO and Chairman Matt Higgins, the co-founder and CEO of RSE Ventures, and CFO Chris Pantoya, who was previously a SVP with the National Basketball Association and currently serves as Chief Commercial Officer and Head of Strategy of FANchise. Omnichannel Acquisition intends to focus on "omnichannel" businesses, including the direct-to-consumer (DTC) / e-commerce retail, consumer healthcare, consumer marketplaces, consumer services, and related sectors in North America with enterprise values from $1 billion to $2.5 billion.
Omnichannel Acquisition was founded in 2020 and plans to list on the NYSE under the symbol OCA.U. The company filed confidentially on October 13, 2020. Citi is the sole bookrunner on the deal.
