Crucible Acquisition II registered with the SEC to offer 20 million units at $10 each. A unit consists of one share of Class A common stock and one-fourth of one redeemable warrant; whole warrants exercisable at $11.50.
The new SPAC intends to target businesses in the software technology industry with an enterprise valuation between $700 million and $1.5 billion, prioritizing cloud-based recurring revenue business models.
The company is led by CEO and Director James Lejeal, who holds the same roles over Crucible’s other two SPACs. The first Crucible SPAC raised $225 million in a January IPO. Crucible III filed for a $350 million IPO the same day as Crucible II. All are targeting the same market sector.
The SPAC expects to apply for a NYSE listing under CRUA.U. Read more.
