G Squared Ascend I filed with the SEC to raise $250 million by offering 25 million units at $10 each. A forward-piurchase agreement with the SPAC’s sponsor would allow G Squared to raise an additional $100 million at the closing of a business combination, according to the S-1 filing.
The SPAC said it will concentrate on a business combination in the technology sector, within six verticals: SaaS, Online Marketplaces, Mobility 2.0/Logistics, Fintech/Insurtech, New Age Media and Sustainability.
The SPAC is led by Chairman Larry Aschebrook, founder of VC firm G Squared Equity Management.
G Squared said it will apply for a listing on the NYSE under GSQD.U. Read more.
