Skydeck Acquisition, a blank check company targeting the media, technology, communications, and digital health sectors, raised $200 million by offering 20 million units at $10. The company offered 5 million fewer units than anticipated. Each unit contains one share of common stock and one-third of a warrant, exercisable at $11.50.
The company is led by Chairman Paul Salem, a Senior Managing Director Emeritus of Providence Equity, and CEO and Director Martin Mannion, a Senior Advisor and former Managing Director and CIO of Summit Partners. The company plans to leverage its management's experience and target businesses with defensible business models, large and growing end markets, and superior unit economics in the media, technology, communications, and digital health sectors.
Skydeck Acquisition plans to list on the Nasdaq under the symbol SKYAU. J.P. Morgan and Morgan Stanley acted as lead managers on the deal.
