RXR Acquisition, a blank check company formed by RXR Realty targeting real estate technology, 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-fifth of a warrant, exercisable at $11.50.
The company is led by CEO and Chairman Scott Rechler, the founder and CEO of real estate owner, manager, and developer RXR Realty. He is joined by President, CFO, and Director Michael Maturo, the President and former CFO of RXR Realty. The company plans to target businesses operating at the intersection of real estate and technology ("PropTech"), including immediately adjacent ecosystems to real estate such as logistics, modern mobility, financial services, and technologies that address problems or inefficiencies associated with urbanization.
RXR Acquisition plans to list on the Nasdaq under the symbol RXRAU. Goldman Sachs and BofA Securities acted as lead managers on the deal.
