Rocket Internet Growth Opportunities, a blank check company formed by Rocket Internet targeting the tech sector, filed on Tuesday with the SEC to raise up to $250 million in an initial public offering.
The Grand Cayman, Cayman Islands-based company plans to raise $250 million by offering 25 million units at $10. Each unit will consist of one share of common stock and one-fourth of a warrant, exercisable at $11.50. At the proposed deal size, Rocket Internet Growth Opportunities will command a market value of $313 million.
The company is led by Chairman Oliver Samwer, who has served as Co-Founder and CEO of Rocket Internet since 2007. He is joined by CEO and Director Soheil Mirpour, who has served as a member of the Management Board at Rocket Internet since 2020. Rocket Internet Growth Opportunities currently intends to focus on companies in the technology sector that can benefit from the expertise and capabilities of the management team in order to create long-term shareholder value.
Rocket Internet Growth Opportunities was founded in 2021 and plans to list on the NYSE under the symbol RKTAU. Citi is the sole bookrunner on the deal.
