Supernova Partners Acquisition II, the second blank check company formed by a Zillow co-founder and other entrepreneur and investment veterans, filed on Wednesday with the SEC to raise up to $250 million in an initial public offering.
The Washington, D.C.-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-fourth of a warrant, exercisable at $11.50. At the proposed deal size, Supernova Partners Acquisition II would command a market value of $313 million.
The company is led by Co-Chairmen Spencer Rascoff and Alexander Klabin. Rascoff is a serial entrepreneur and co-founder of both Hotwire and Zillow. Klabin is co-founder of Senator Investment Group. CEO Robert Reid is a former Senior Managing Director in the Private Equity Group, and CFO Michael Clifton most recently served as a senior investment professional at The Carlyle Group. The group's previous SPAC, Supernova Partners Acquisition (SPNV.U; +22% from $10 offer price), raised $350 million in October 2020. Supernova Partners Acquisition II intends to partner with an advantaged growth company that benefits from thematic shifts and tech-enabled trends.
Supernova Partners Acquisition II was founded in 2020 and plans to list on the NYSE under the symbol SNII.U. It filed confidentially on December 31, 2020. J.P. Morgan is the sole bookrunner on the deal.
