ScION Tech Growth II priced its IPO of 30 million units at $10 each. Units begin trading today on the Nasdaq under SCOBU. Each consists of one of the Company’s Class A ordinary shares and one-third of a warrant. Each whole warrant entitles the holder to purchase one of the SPAC’s Class A ordinary shares at $11.50.
Once the securities constituting the units begin separate trading, shares and warrants are expected to list under SCOB and SCOBW, respectively.
ScION intends to focus its search for an initial business combination on technology-enabled businesses that offer specific technology solutions, broader technology software and services in the financial services sector.
The SPAC is sponsored by an affiliate of ION Investment Group, a technology software investment company and an operator of global technology businesses.
ScION is led by Executive Chairman Andrea Pignataro, ION’s founder; CEO Mathew Cestar, the former co-head of Credit Suisse’s EMEA Investment Banking and Capital Markets division, and CFO Alex Triplett, ION’s head of Corporate Development. Read more.
