Rocket Global Acquisition, the second blank check company formed by the Managing Partner of Broadband Capital Partners, withdrew its plans for an initial public offering on Wednesday. It had filed in March 2021 to raise $100 million by offering 10 million shares at $10. The company did not plan to offer units with warrants attached.
The company was set to be led by CEO, CFO, and Chairman Philip Wagenheim, who serves as Managing Partner of Broadband Capital Partners and previously co-founded Broadband Capital Management in 2000. The company had planned to target businesses with enterprise values of $500 million to $2.5 billion.
Wagenheim's other SPAC, Just Another Acquisition (JAAC), filed in February 2021 to raise $60 million; the prospectus is currently still active, but has not been updated since its initial filing.
The New York, NY-based company was founded in 2021 and had planned to list on the Nasdaq under the symbol RGAC. Ladenburg Thalmann was set to be the sole bookrunner on the deal.
