Corner Growth Acquisition, a blank check company formed by Corner Ventures targeting tech in the US and developed countries, filed on Monday with the SEC to raise up to $300 million in an initial public offering.
The Palo Alto, CA-based company plans to raise $300 million by offering 30 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50. At the proposed deal size, Corner Growth Acquisition would command a market value of $375 million.
The company is led by Co-Chairman and CEO Marvin Tien and Co-Chairman John Cadeddu, co-founders and General Partners of Corner Ventures. Corner Growth Acquisition plans to target fast-growing tech companies in the US and other developed countries.
Corner Growth Acquisition was founded in 2020 and plans to list on the Nasdaq under the symbol COOLU. The company filed confidentially on November 3, 2020. Cantor Fitzgerald is the sole bookrunner on the deal.
