Andretti Acquistion Cuts Deal Size 20% Ahead of $200M IPO

Andretti

Andretti Acquisition in an amended S-1 filing disclosed it now plans to offer 20 million units at $10 each, down from the 25 million units initially registered in March for an offering.

A unit still consists of one Class A ordinary share and one-half of a redeemable warrant; whole warrants exercisable at $11.50.

RBC is sole book-runner for the offering.

Two key members of the management team are racing legends Mario (pictured) and Michael Andretti. The SPAC intends to focus on opportunities that can benefit from the iconic Andretti brand name, both inside and outside of the worldwide motor sports platform, and the expertise and ability of the management team to identify, acquire and grow a business in the broadly-defined automotive industry.

The SPAC said it will apply for a NYSE listing under WNNR.U. Read more.

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