Two more Houston-area blank check companies go public

Late last week, two more SPACs or blank check companies went public via an Initial Public Offering (IPO).

GoGreen Investments upsized its IPO and raised $240 million. The company is based in downtown Houston and is seeking companies in the clean/renewal energy space.

The company is led by CEO John Dowd, who is based in Massachusetts. He spent 14 years as a portfolio manager of the energy and natural resources sector funds of Fidelity Research and Management.

The CFO is Michael Sedoy, a former portfolio manager at various hedge funds on the east coast. He worked alongside Mr. Dowd, for a short period, at Sanford Berstein in New York

Newhold Investment II raised $175 million. The company is targeting businesses involved in advanced robotics, the Internet of Things, Software as a service with machine learning or new energy technologies.

The company is led by Kevin Charlton, who has taken a number of SPACs public in recent years. He has also worked for McKinsey, NASA and JP Morgan in his career.

One of the SPACs taken public was Newhold I which raised $150 million in July 2020 and took Boston-based Evolv Technology public in July 2021 in a deal that valued the business at $1.25 billion. Evolve is a leader in AI touchless security screening.

A third Houston-based SPAC, SportsMap Tech Acquisition went public earlier in the week.

https://www.prnewswire.com/news-releases/gogreen-investments-corporation-announces-upsizing-and-pricing-of-240-000-000-initial-public-offering-301405061.html

https://www.businesswire.com/news/home/20211020006140/en/NewHold-Investment-Corp.-II-Announces-Pricing-of-175-Million-Initial-Public-Offering

 

 

 

 

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