Endurance Acquisition, a blank check company formed by Antarctica Capital targeting space and technology, filed on Friday with the SEC to raise up to $200 million in an initial public offering.
The New York, NY-based company plans to raise $200 million by offering 20 million units at $10 per unit. Each unit contains one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, the company would command a market value of $250 million.
Endurance Acquisition is led by CEO and Director Richard Davis, Managing Director at Antarctica Data Partners, an affiliate of sponsor Antarctica Capital, and founder of ArgoSat Advisors. The company is also led by Chairman Chandra Patel, founder of Antarctica Capital, and CFO Romero Reyes, former Americas Head of Communications, Cable & Satellites Investment Banking at Jefferies.
The company plans to leverage management's experience to target businesses within the space and wireless technologies industries, specifically sectors that support data infrastructure, data analytics, and big data, such as Platforms and Sensor, Mobile Communications, Internet of Things, and AI and Big Data. Endurance Acquisition intends to focus on companies in the Asia Pacific region.
The company was founded in 2021 and plans to list on the Nasdaq under the symbol EDNCU. Endurance Acquisition filed confidentially on June 11, 2021. Cantor Fitzgerald is the sole bookrunner on the deal.
