Corner Growth Acquisition 2, the second blank check company formed by Corner Ventures targeting tech, filed on Monday with the SEC to raise up to $175 million in an initial public offering.
The Palo Alto, CA-based company plans to raise $175 million by offering 17.5 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, Corner Growth Acquisition 2 would command a market value of $219 million.
The company is led by Co-Chairman and CEO Marvin Tien and Co-Chairman John Cadeddu, co-founders and General Partners of Corner Ventures. The pair's other SPACs include Corner Growth Acquisition 3 (CIIIU.RC), which filed concurrently with Corner Growth Acquisition 2, and Corner Growth Acquisition (COOLU), which raised $350 million in December 2020. Corner Growth Acquisition 2 plans to target fast-growing tech companies in the US and other developed countries.
Corner Growth Acquisition 2 was founded in 2021 and plans to list on the Nasdaq. The company has not yet chosen a ticker (RC ticker: CGIIU.RC). Cantor Fitzgerald is the sole bookrunner on the deal.
