Osprey Technology Acquisition Corp., a technology-focused special purpose acquisition entity formed for the purpose of entering into a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses, today completed its initial public offering of 27,500,000 units at a price of $10 per unit for gross proceeds to the company of $275,000,000.
Each unit issued in the offering consists of one share of the company’s Class A common stock and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one share of Class A common stock at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the Class A common stock and redeemable warrants are expected to be listed on the NYSE under the ticker symbols “SFTW” and “SFTW.WS,” respectively. No fractional warrants will be issued upon separation of the units and only whole warrants will trade.
Credit Suisse Securities (USA) LLC served as the sole book-running manager and I-Bankers Securities Inc. served as co-manager for the offering. The company has granted the underwriters a 45-day option to purchase up to an additional 4,125,000 units at the initial public offering price to cover over-allotments, if any.
