Reinvent Technology Partners Z in a filing said it closed its $230M IPO yesterday. The 23,000,000 units were sold at a price of $10 per unit. The consumer technology SPAC trades on the NYSE under “RTPZ.U”. Read more.
The new SPAC seeks to "combine with and maximize the value of a fundamentally strong franchise that is facing temporary dislocation due to idiosyncratic events stemming from the COVID-19 pandemic," the filing states.
Terms call for a business combination between the SPAC and Mumbai-based Reliance with consideration delivered in a series of four tranches, according to a regulatory filing when the deal was announced last October, totaling $102 million in cash and $38 million in investment.