February 22, 2024

Tech entrepreneurs’ SPAC Reinvent Engineering Companions Z data files for a $200 million IPO

Reinvent Technological know-how Companions Z, the 2nd blank test business shaped by Reinvent Capital focusing…

Tech entrepreneurs’ SPAC Reinvent Engineering Companions Z data files for a 0 million IPO

Reinvent Technological know-how Companions Z, the 2nd blank test business shaped by Reinvent Capital focusing on the tech sector, submitted on Monday with the SEC to elevate up to $200 million in an first community supplying.

The New York, NY-dependent corporation strategies to increase $200 million by providing 20 million models at $10. Every single unit consists of one share of typical stock and just one-fifth of a warrant, exercisable at $11.50. At the proposed offer dimensions, Reinvent Engineering Partners Z would command a current market worth of $250 million.

The corporation is led by Co-Guide Director Reid Hoffman, who is presently a Spouse at venture business Greylock and beforehand co-launched LinkedIn Co-Guide Director Mark Pincus, the founder and Chairman of Zynga (Nasdaq: ZNGA) and CEO, CFO, and Director Michael Thompson, who earlier co-founded BHR Capital and was Managing Member and Portfolio Manager. Hoffman, Pincus, and Thompson are all co-founding customers of Reinvent Money, a administration organization that focuses on partnering with companies to go after entrepreneurship at scale. Their former SPAC, Reinvent Know-how Associates (RTP.U +8% from $10 present selling price), lately concluded a $600 million IPO in September. 

The corporation ideas to focus on a business enterprise in a tech sector or subsector, like purchaser net, on the internet marketplaces, ecommerce, payments, gaming, synthetic intelligence, SaaS, digital healthcare, autonomous motor vehicles, and transportation, amid other folks.

Reinvent Know-how Partners Z was launched in 2020 and designs to list on the NYSE underneath the symbol RTPZ.U. The enterprise submitted confidentially on October 16, 2020. Morgan Stanley is the sole bookrunner on the deal. 

The post Tech entrepreneurs’ SPAC Reinvent Know-how Companions Z data files for a $200 million IPO originally appeared on IPO expense supervisor Renaissance Capital’s website internet site renaissancecapital.com.

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