Epiphany Technology Acquisition, a blank check company targeting the technology industry, filed on Tuesday with the SEC to raise up to $350 million in an initial public offering.
The Burlingame, CA-based company plans to raise $350 million by offering 35 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, Epiphany Technology Acquisition will command a market value of $446 million.
The company is led by Chairman Arthur Coviello, a Venture Partner at Rally Ventures and former EVP and Head of the Security Division at EMC; CEO, CFO, and Director Peter Bell, General Partner of Amity Ventures and former Managing General Partner of Highland Capital Partners; and Vice Chairman Paul Deninger, a Senior Managing Director at Davis Partners Group and a former Senior Managing Director at Evercore.
Epiphany Technology Acquisition plans to leverage its management team's experience and target businesses in the technology industry with proven business models, strong long-term growth prospects, and strong management, among other criteria.
Epiphany Technology Acquisition was founded in 2020 and plans to list on the Nasdaq under the symbol EPHYU. The company filed confidentially on October 16, 2020. Cantor Fitzgerald is the sole bookrunner on the deal.
