Seven Oaks Acquisition, a blank check company focusing on businesses with good ESG practices, raised $225 million by offering 22.5 million units at $10. The company offered 2.5 million more units than anticipated. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50.
The company is led by CEO and Chairman Gary Matthews, who previously served as CEO of IES Holdings (Nasdaq: IESC) and was a Managing Director at Morgan Stanley Capital Partners. He is joined by CFO Andrew Pearson, who founded Soundview Advisors in 2019 after spending more than two-decades with General Atlantic. Seven Oaks Acquisition intends to focus on opportunities aiming to make a positive social impact with a specific emphasis on good Environmental, Social and Governance (ESG) practices.
Seven Oaks Acquisition plans to list on the Nasdaq under the symbol SVOKU. JonesTrading acted as a lead manager on the deal.
