D and Z Media Acquisition, a blank check company led by a former Intercontinental Exchange executive targeting media and edtech businesses, filed on Friday with the SEC to raise up to $250 million in an initial public offering.
The Atlanta, GA-based company plans to raise $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. At the proposed deal size, D and Z Media Acquisition would command a market value of $313 million.
The company is led by CEO and Chairman Betty Liu, who most recently served as the Executive Vice Chairman of the New York Stock Exchange and Chief Experience Officer for the Intercontinental Exchange. She is joined by CFO Mark Wiltamuth, who previously held various roles at Petco (WOOF) and worked in equity research at Morgan Stanley and Jefferies. The company plans to target the media, education technology, and other related industries.
D and Z Media Acquisition was founded in 2020 and plans to list on the NYSE under the symbol DNZ.U. The company filed confidentially on October 29, 2020. Goldman Sachs and Loop Capital Markets are the joint bookrunners on the deal.
