Navigation Capital Acquisition VI Files for $150M IPO

Navigation Capital Acquisition VI, a fintech-focused SPAC, registered with the SEC to offer 15 million units at $10 each. A unit consists of one share of Class A common stock and one-third of one redeemable warrant, exercisabtle at $11.50.

Targeting specialty finance and financial technology companies, the SPAC is led by CEO Dennis Lockhart, who currently serves as a distinguished professor-of-the-practice at the Sam Nunn School of International Affairs at Georgia Tech. He previously served as president and CEO of the Federal Reserve Bank of Atlanta for 10 years.

The blank-check company is sponsored by Navigation Capital, which also filed registrations for three other SPACs on June 28 — Navigation Capital Acquisition VII, VIII and IX. 

Wells Fargo and Mizuho are joint book-runners for the offering. Loop Capital Markets is co-manager. The underwriters have an option to purchase up to 2.25 million additional units to cover any over-allotments.

The SPAC has applied to list on the NYSE but has not selected a ticker symbol. Read more.

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