Endurance Acquisition registered to offer 20 million units at $10 each. A unit consists of one Class A ordinary share and one-half of one redeemable warrant; whole warrants exercisable at $11.50.
Endurance plans to focus on the space and wireless technologies industries, specifically sectors that support data infrastructure, data analytics and big data.
The new SPAC is led by Chairman Chandra Patel, founder of Antarctica Capital and managing partner since 2010. Antarctica Capital is a private equity firm headquartered in New York with offices in the UK and India and assets under management in excess of $2 billion.
Cantor is sole book-running manager of the offering. The underwriters have an option to purchase up to an additional 3 million units to cover any over-allotments.
The SPAC intends to apply for a listing on the Nasdaq under EDNCU. Read more.