Perception Capital II, a blank check company formed by Perception Capital targeting industrial technology, filed on Wednesday with the SEC to raise up to $250 million in an initial public offering.
The Wayzata, MN-based company plans to raise $250 million by offering 25 million units at $10. Each unit will consist of one share of common stock and one-third of a warrant, exercisable at $11.50. At the proposed deal size, Perception Capital II will command a market value of $313 million.
The company is led by CEO and Director Rick Gaenzle, who co-founded Gilbert Global Equity Capital and currently serves as Managing Director, and Chairman Scott Honour, who co-founded Northern Pacific Group and currently serves as Managing Partner. Perception Capital II intends to identify and acquire a technology-enabled company operating within one of the multiple sectors benefitting from secular tailwinds in Industrial Technology. This includes the Industrial Automation sector with businesses focused on: mobility and autonomous motion, automation components and systems, material handling solutions, robotics, additive manufacturing, Internet of Things and connectivity; as well as the Sustainability sector with businesses focused on: energy storage, advance battery technologies, the hydrogen economy, waste-to-energy, renewable energy, recycling, building energy management and technologies for clean food, water and air.
Perception Capital II was founded in 2021 and plans to list on the Nasdaq under the symbol PCCTU. Jefferies, Moelis & Company and Nomura Securities are the joint bookrunners on the deal.
