BYTE Acquisition, a blank check company targeting the Israeli technology industry, filed on Friday 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 consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, BYTE Acquisition would command a market value of $385 million.
The company is led by Executive Chairman Kobi Rozengarten, the CEO of Rozengarten Management and a former Managing Partner at Jerusalem Venture Partners, and CEO and Director Danny Yamin, a former VP of Microsoft. The company plans to target the Israeli technology industry, including cybersecurity, automotive technology, fintech, enterprise software, and cloud computing, among other focus areas.
BYTE Acquisition was founded in 2021 and plans to list on the Nasdaq under the symbol BYTSU. The company filed confidentially on February 3, 2021. Citi is the sole bookrunner on the deal.
