GLA II Meteora Acquisition, a blank check company backed by Meteora Capital targeting high-growth businesses, filed on Monday with the SEC to raise up to $220 million in an initial public offering.
The New Hope, PA-based company plans to raise $220 million by offering 22 million units at $10. Each unit consists of one share of common stock, one-twentieth of a right to receive one share of common stock at the closing of an initial business combination, and one-half of a warrant, exercisable at $11.50. At the proposed deal size, GLA II Meteora Acquisition would command a market value of $275 million.
The company is led by Co-CEO and Director Gus Garcia, the former Head of SPAC M&A for Bank of America; Co-CEO and Director Lewis Silberman, the former Head of SPAC Equity Capital Markets for Oppenheimer & Co.; President and Director Anantha Ramamurti, a former Managing Director and Head of Global Mobility Group at Bank of America Securities; and CFO Joseph Tonnos, a Principal and Associate Portfolio Manager at Meteora Capital. Additionally, Silberman, Garcia, and Ramamurti are all co-founders and Partners of consulting and financial-advisory business SPAC Advisory Partners, LLC.
The company plans to target high-growth businesses in the software, technology-enabled manufacturing and services, mobility, and transportation sectors, as well as those that help to address evolving environmental, social and governance (ESG) related issues.
GLA II Meteora Acquisition was founded in 2021 and plans to list on the Nasdaq under the symbol GLAA.U. Oppenheimer & Co. is the sole bookrunner on the deal.
