Israel Acquisitions, a blank check company targeting Israeli or Israel-related tech businesses, filed on Thursday with the SEC to raise up to $200 million in an initial public offering.
The Bee Cave, TX-based company plans to raise $200 million by offering 20 million units at a price of $10. Each unit consists of one share of common stock, one right to receive one-tenth of a share upon the completion of an initial business combination, and one-half of a warrant, exercisable at $11.50. At the proposed deal size, Israel Acquisitions would command a market value of $268 million.
Israel Acquisitions is led by CEO and Director Ziv Elul, co-founder and former CEO of adtech company Inneractive, and Chairman Izhar Shay, a venture partner at Disruptive AI, Chairman of Kendago, and Israel's former Minister of Science and Technology. The company plans to focus on high-growth technology companies that are domiciled in Israel, that carry out all or a substantial portion of their activities in Israel, or that have some other significant Israeli connection.
The company was founded in 2021 and plans to list on the Nasdaq under the symbol ISRLU. BTIG is the sole bookrunner on the deal.
