Jaws Spitfire Acquisition, the second blank check company led by Starwood Capital founder Barry Sternlicht, raised $300 million by offering 30 million units at $10. The company offered 5 million more units than anticipated. Each unit consists of one share of common stock and one-fourth of a warrant, exercisable at $11.50.
The company is led by Chairman Barry Sternlicht, founder and CEO of Starwood Capital, and CEO and Director Matthew Walters, who is currently a Principal at JAWS Estates Capital. Sternlicht's previous SPAC, Jaws Acquisition (JWS; +16% from $10 offer price), went public this past March and is pending a combination with value-based care delivery platform for seniors Cano Health. Jaws Spitfire Acquisition intends to focus on consumer technology and related technology businesses that have attractive growth-oriented characteristics and strong underlying demand drivers, preferably located in North America or Europe.
Jaws Spitfire Acquisition plans to list on the NYSE under the symbol SPFR.U. Credit Suisse acted as a lead manager on the deal.
