Revolution Acceleration Acquisition, a blank check company focusing on technology, government policy, and regulation, raised $250 million by offering 25 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50.
The company is led by its sole executive CEO and Director John Delaney, a former member of the US House of Representatives and co-founder and former CEO of CapitalSource (NYSE: CSE) and HealthCare Financial Partners (NYSE: HCF). Revolution Acceleration Acquisition plans to target 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 plans to list on the Nasdaq under the symbol RAACU. Credit Suisse acted as a lead manager on the deal.
