Build Acquisition, a blank check company formed by BuildGroup targeting software and tech-enabled services, filed on Friday with the SEC to raise up to $200 million in an initial public offering.
The Austin, TX-based company plans to raise $200 million by offering 20 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, Build Acquisition would command a market value of $250 million.
The company is led by Co-CEO and Chairman Lanham Napier, the co-founder and CEO of investment manager BuildGroup, and Co-CEO and Director Zeynep Young, the former CEO of government technology company Calytera. The company plans to target software and technology-enabled services businesses, with a primary focus on North American markets.
Build Acquisition was founded in 2020 and plans to list on the NYSE under the symbol BGSX.U. The company filed confidentially on January 22, 2021. Cowen and Allen & Company are the joint bookrunners on the deal.
