The second and third travel SPACs led by the CEO of an Atlanta-based corporate travel agency filed with the SEC to raised a combined $550 million.
Both SPACs are led by Chairman Gavin Isaacs, who currently serves as a director of DraftKings and is on the board of Galaxy Gaming, and CEO and President Gary Teplis, who is CEO of Teplis Travel. Their first Altitude SPAC raised $300 million in a December IPO.
Each new SPAC will target travel, travel technology and travel-related businesses with an enterprise value of $1 billion or more and with either B2B or B2C focuses.
Altitude I filed to offer 20 milllion units at $10 each to raise $200 million.
The SPAC plans to list on the Nasdaq under ALTEU. Read more.
Altitude III filed with the SEC to offer 35 million units at $10 each to raise $350 million.
The SPAC expects to list on the Nasdaq under ALTTU. Read more.
