Supernova Partners Acquisition II, the second blank check company formed by a Zillow co-founder and other entrepreneur and investment veterans, raised $300 million by offering 30 million units at $10. The company offered 5 million more units than anticipated. Each unit consists of one share of common stock and one-fourth of a warrant, exercisable at $11.50.
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; +17% 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 plans to list on the NYSE under the symbol SNII.U. J.P. Morgan and Jefferies acted as lead managers on the deal.
