Global Synergy Acquisition, a blank check company targeting technology services, filed on Friday with the SEC to raise up to $225 million in an initial public offering.
The New York, NY-based company plans to raise $225 million by offering 22.5 million units at $10. Each unit will consist of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, Global Synergy Acquisition will command a market value of $281 million.
The company is led by Co-CEOs Alok Oberoi and Suresh Vaswani, who serve as Executive Chairman and Senior Director, respectively, at the Everstone Group. They are joined by Chairman Hank Uberoi, who has been a Partner at Primavera Investments since 2019, and CFO and COO Murtaza Moochhala, who founded MSZ Capital in 2018 and serves as Managing Partner. The management team plans to acquire a business that can benefit from its operational and investing expertise in sectors such as IT Services and Business Process Outsourcing, or BPO, collectively defined as Technology Services or IT Enabled Services ("ITES").
Global Synergy Acquisition was founded in 2020 and plans to list on the Nasdaq under the symbol GSAQU. The company filed confidentially on September 16, 2020. Credit Suisse and J.P. Morgan are the joint bookrunners on the deal.
