Elliott Opportunity II, a blank check company formed by Elliott Management targeting technology, raised $530 million by offering 53 million units at $10. The company offered 3 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 Co-Chairmen Jesse Cohn and Gordon Singer, who both serve as Managing Partners at Elliott Management. They are joined by Co-CEO David Kerko, who serves as Head of North America Private Equity at Elliott, and Co-CEO Isaac Kim, who is a Managing Director at Evergreen Coast Capital, the private equity affiliate of Elliott.
Elliott Opportunity II intends to capitalize on the management's ability to identify and acquire opportunities in the technology sector that have leading market positions, operate in a space with a large and growing total addressable market, have a track record of sustainable growth with identifiable upside opportunities, and have strong management teams.
Elliott Opportunity II plans to list on the NYSE under the symbol EOCW.U. Credit Suisse, Citi, and UBS Investment Bank acted as joint bookrunners on the deal.
