Industrial Tech Acquisitions II, the second blank check company targeting the industrial, energy, and communications technology space, raised $150 million by offering 15 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50.
The company is led by CEO and Chairman Scott Crist, the CEO of intelligent video monitoring firm Osperity and a Partner at Texas Ventures, and CFO and Director Greg Smith, the founder and former CEO and CFO of ERF Wireless and the former CFO of Infrastructure Networks. The company intends to target industrial technology businesses, focusing on areas including software, mobile and IoT applications, digital and energy transformation, cloud communications and high bandwidth services, including LTE, remote sensing and 5G communications.
Industrial Tech Acquisitions II plans to list on the Nasdaq under the symbol ITAQU. Wells Fargo Securities acted as sole bookrunner on the deal.
