Revolution Acceleration Acquisition, a blank check company focusing on technology, government policy, and regulation, filed on Friday with the SEC to raise up to $250 million in an initial public offering.
The Washington, DC-based company plans to raise $250 million by offering 25 million units at $10. Each unit will consist of one share of common stock and one-third of a warrant, exercisable at $11.50. At the proposed deal size, Revolution Acceleration Acquisition will command a market value of $333 million.
The company is led by its sole executive CEO and Director John Delaney, who previously served as a member of the US House of Representatives from 2013 to 2019. Prior to that, Delaney co-founded and served as CEO of both CapitalSource (NYSE: CSE) and HealthCare Financial Partners (NYSE: HCF). Revolution Acceleration Acquisition will focus on companies that are uniquely positioned to capitalize on the opportunities that can be unlocked by the convergence of innovation, government policy, and regulation.
Revolution Acceleration Acquisition was founded in 2020 and plans to list on the Nasdaq under the symbol RAACU. The company filed confidentially on September 21, 2020. Credit Suisse is the sole bookrunner on the deal.
