Inception Growth Acquisition, a blank check company formed by VC Paige Craig targeting the TMT, sports, and gaming industries, filed on Friday with the SEC for an IPO.
The New York, NY-based company plans to raise $90 million by offering 9 million units at a price of $10. There it would command a market value of $113 million. Units include one share of common stock and 3/4 warrants exercisable at $11.50. The trust is initially overfunded at $10.10 per unit.
The SPAC is led by Chairman and CEO Paige Craig, an angel investor and manager at Outlander Lab, Mayhaw Capital, and Arena Ventures. CFO and Director Felix Wong previously served as CFO of Tottenham Acquisition, leading up to its merger with Clene Nanomedicine (CLNN).
The SPAC was founded in 2021 and plans to list on the Nasdaq. It has not selected a ticker (RC ticker: IGALU.RC). EF Hutton and Brookline Capital Markets are the joint bookrunners on the deal.
