Omnichannel Acquisition, a blank check company targeting omnichannel consumer and retail businesses, raised $200 million by offering 20 million units at $10. The company offered 5 million fewer units than anticipated. It originally planned to offer 35 million units before decreasing the offering to 25 million units earlier this week. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50.
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 those in the direct-to-consumer and e-commerce retail, consumer healthcare, consumer marketplaces, consumer services, and related sectors in North America, with enterprise values between $1 billion and $2.5 billion.
Omnichannel Acquisition plans to list on the NYSE under the symbol OCA.U. Citi acted as a lead manager on the deal.
