Queen's Gambit Growth Capital, a blank check company formed by Colle Capital and Agility Logistics targeting a sustainable business, raised the proposed deal size for its upcoming IPO on Thursday.
The New York, NY-based company now plans to raise $275 million by offering 27.5 million units at $10. The company had previously filed to offer 22.5 million units at the same price. Each unit now consists of one share of common stock and one-third of a warrant, exercisable at $11.50; each unit previously contained one-half of a warrant. Affiliates of Agility, an owner of the sponsor, and Luxor Capital Group each intend to purchase 9.9% of units in the offering. At the revised deal size, Queen's Gambit Growth Capital will raise 22% more in proceeds than previously anticipated.
The company's all-female management team and board is led by CEO and Director Victoria Grace, a Founding Partner of Colle Capital Partners I, an opportunistic, early stage technology venture fund. She is joined by CFO Anastasia Nyrkovskaya, who currently serves as CFO of Fortune Media. Queen's Gambit Growth Capital plans to target businesses that provide solutions promoting sustainable development, economic growth, and prosperity, with sectors of potential interest including clean energy, healthcare, financial technology, industrials, mobility, and emerging technology.
Queen's Gambit Growth Capital was founded in 2020 and plans to list on the Nasdaq under the symbol GMBTU. Barclays is the sole bookrunner on the deal.
