Endurance Acquisition, a blank check company formed by Antarctica Capital targeting space and technology, raised $200 million by offering 20 million units at $10. Each unit contains one share of common stock and one-half of a warrant, exercisable at $11.50.
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. He is joined 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.
Endurance Acquisition plans to list on the Nasdaq under the symbol EDNCU. Cantor Fitzgerald acted as sole bookrunner on the deal.
