Tribe Capital Growth II, a blank check company formed by Tribe Capital targeting the tech sector, filed on Monday with the SEC to raise up to $300 million in an initial public offering.
The San Francisco, CA-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-fourth of a warrant, exercisable at $11.50. At the proposed deal size, Tribe Capital Growth II would command a market value of $375 million.
The company is led by CEO and Chairman Arjun Sethi, a co-founder and Partner of venture firm Tribe Capital Management, and CFO and Vice Chairman Omar Chohan, a Partner and leader of the Special Situations Group at Tribe Capital. The company plans to pursue opportunities with top-decile private technology companies that are exhibiting inflection points in their growth.
Tribe Capital Growth II was founded in 2021 and plans to list on the NYSE under the symbol BTVU. Cantor Fitzgerald and William Blair are the joint bookrunners on the deal.
