Jaws Hurricane Acquisition, a sixth blank check company led by Starwood Capital founder Barry Sternlicht, raised $275 million by offering 27.5 million units at $10. The company offered 2.5 million more units than anticipated. Each unit consists of one share of common stock and one-fourth of a warrant, exercisable at $11.50.
The company is led by Chairman Barry Sternlicht, the founder and CEO of Starwood Capital and Starwood Property Trust (NYSE: STWD), and CEO and Director Matthew Walters, who is a Managing Director at JAWS Estates Capital. The company expects to focus on consumer technology and related technology businesses that have attractive growth-oriented characteristics and strong underlying demand drivers, with either all or a substantial portion of business activities in North America.
Jaws Hurricane Acquisition plans to list on the Nasdaq under the symbol HCNEU. Credit Suisse and J.P. Morgan acted as lead managers on the deal.
