Vistas Acquisition Company II, a blank check company targeting consumer tech and media and entertainment, filed on Thursday with the SEC to raise up to $200 million in an initial public offering.
The company plans to raise $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, Vistas Acquisition II would command a market cap of $255 million.
The company is led by CEO and Director Jacob Cherian, the former CEO of I-AM Capital Acquisition, which merged with Simplicity Esports and Gaming (OTC: WINR) in 2018. He is joined by CFO and Director Saurabh Gupta, the founder and Managing Director of M! Capital Ventures. Management's previous SPAC, Vistas Media Acquisition, completed its combination this past February with music streaming platform Anghami (ANGH; -63% from $10 offer price), where Cherian currently serves as Co-CEO.
Vistas Acquisition II plans to target consumer tech, and media and entertainment. Within consumer tech, the company has identified the Asia Pacific, European and Middle Eastern regions as an area of focus, and within media and entertainment, the company plans to focus on key geographies such as India, USA, Canada, UK and the Middle East & North Africa (MENA) region.
The New York, NY-based company was founded in 2021 and plans to list on the Nasdaq under the symbol VACXU. Vistas Acquisition Company II filed confidentially on July 16, 2021. EF Hutton is the sole bookrunner on the deal.
