LTV Capital Partners I, a blank check company targeting businesses with high growth tech-enabled platforms, filed on Tuesday with the SEC to raise up to $215 million in an initial public offering.
The Redwood City, CA-based company plans to raise $215 million by offering 21.5 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50. At the proposed deal size, LTV Capital Partners I would command a market value of $269 million.
The company is led by CEO Sukhinder Singh Cassidy, a co-founder and Venture Partner of Acrew Capital's Diversify Capital Fund and former President of StubHub, and Chairman Jeffrey Housenbold, a venture capitalist who is currently a Managing Partner at Softbank Investment Advisors. LTV Capital Partners I aims to leverage its decades of experience building technology-enabled businesses and large industry networks to target a high growth, technology-enabled platform company.
The company was founded in 2021 and plans to list on the Nasdaq under the symbol LTVAU. LTV Capital Partners I filed confidentially on March 26, 2021. Citi and SoFi Securities will act as joint bookrunners on the deal.
