Cerberus Telecom Acquisition II in a letter to the SEC said it isd withdrawing a planned offering of 25 million units at $10 each. The SPAC initially registered to offer 50 million units in March 2021, slashing that in half last November.
The SPAC had planned to target communications companies, especially firms engaged in the 5G broadband standard.
Cerberus II is led by Chairman Frank Bruno, Co-CEO of Cerberus. He is responsible for leading Cerberus’s global investment activities. Management’s previous SPAC, Cerberus I, closed a deal last year with KORE Wireless at a $1 billion valuation.
Cerberus II had planned to list on the NYSE with Deutsche Bank managing the offering. Read more.
