One Equity Partners Open Water I, a blank check company formed by One Equity Partners, filed on Wednesday with the SEC to raise up to $300 million in an initial public offering.
The New York, NY-based company plans to raise $300 million by offering 30 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, One Equity Partners Open Water I will command a market value of $375 million.
The company is led by CEO and Co-Chairman Todd Bradley, who recently joined One Equity Partners as an Operating Partner and currently serves on the boards of Mattel (NASDAQ: MAT), Commvault (NASDAQ: CVLT), and Kodak (NYSE: KODK). He is joined by Co-Chairman James Koven, who is a Senior Managing Director at One Equity Partners, and CFO Jessica Marion, who currently serves as CFO of One Equity Partners. One Equity Partners Open Water I intends to target businesses in the technology, healthcare, and specialty industrials sectors.
One Equity Partners Open Water I was founded in 2020 and plans to list on the Nasdaq under the symbol OEPW.U. The company filed confidentially on September 21, 2020. Credit Suisse and RBC Capital Markets are the joint bookrunners on the deal.
