Macondray Capital Acquisition I registered to offer 27.5 million units, each consisting of one Class A ordinary share and one-third of one redeemable warrant. Whoe warrants will be exercisable at $11.50.
The new SPAC in the filing said it will target companies with an aggregate enterprise value of at least $1.5 billion in the software, data and technology, media and telecom (“TMT”) industries.
Macondray is led by Co-CEO and Chairman R. Grady Burnett, who was a co-founder of Bow Capital Partners, a $275 million venture capital fund founded in 2016. Co-CEO and CFO W. Lance Conn, has been a director at dozens of companies. Since 2009, Lance has served as a director on the board of Charter Communications.
The SPAC intends to apply for a listing on the Nasdaq under DRAYU. Read more.
