ION Acquisition 3, the third blank check company formed by ION Asset Management targeting an Israeli tech business, raised $220 million by offering 22 million shares at $10. The company did not offer units with warrants attached. Funds managed by Third Point had indicated on up to 9.9% of shares in the offering.
The company is led by Chairman Jonathan Kolber, who currently serves as Chairman of ION Asset Management and a Partner and Senior Advisor of tech buyout and growth capital firm Viola Growth. He is joined by Co-CEO and Director Gilad Shany, co-founder and Managing Partner of ION Crossover Partners, and Co-CEO and President Avrom Gilbert, who has served as COO of blockchain firm Coin Sciences since 2018. The company plans to identify, acquire, and help build a company with ties to the technology and innovation ecosystem in Israel. Management's previous SPACs include ION Acquisition 1 (IACA) and ION Acquisition 2 (IACB.U).
ION Acquisition 3 plans to list on the NYSE under the symbol IACC. Morgan Stanley and Goldman Sachs acted as lead managers on the deal.
