Cohen Circle Acquisition Corp. I Raises $230 Million in IPO
October 15, 2024
IPO / SPAC: Oct 11, 24
Industry:
BLANK CHECKS
Cohen Circle Acquisition Corp. I, a special purpose acquisition company (SPAC), has successfully completed its initial public offering (IPO), raising $230 million. The company, led by Betsy Z. Cohen, intends to focus on acquiring businesses in the fintech sector.
The IPO included 23 million units priced at $10 per unit, with each unit consisting of one Class A ordinary share and one-third of a warrant to purchase an additional share at $11.50. Trading under the symbol “CCIRU” on the Nasdaq Global Market began on October 11th, with separate trading of shares (“CCIR”) and warrants (“CCIRW”) expected soon.
Cohen Circle Acquisition Corp. I is a blank check company, meaning it has no current operations and is formed solely to acquire or merge with another company. While it may explore opportunities in any industry, the company’s primary focus is on the financial technology sector.
ScanTech Set to Go Public in $300 Million SPAC Deal (October 2024 Presentation)
October 15, 2024
Definitive Agreement: Sep 05, 23
Industry:
BLANK CHECKS
ScanTech, a developer of advanced security screening systems, is going public through a merger with Mars Acquisition Corp., a special purpose acquisition company (SPAC), in a deal valuing the combined entity at $300 million. ScanTech is known for its SENTINEL CT scanner, the fastest TSA-approved carry-on baggage scanner, which boasts a 4x throughput improvement over current standards.
The company leverages AI and machine learning to optimize threat detection, utilizing a unique “Virtual Sentinel” program to generate synthetic scan data for algorithm training. This approach allows for more comprehensive threat identification and continuous performance improvement.
ScanTech’s technology offers several advantages over competitors, including a fixed-gantry design that reduces costs and improves efficiency, modularity for easy upgrades, and universal compatibility for simplified installation.
The merger is expected to close in Q4 2024, with the combined company trading on NASDAQ under the ticker symbol “STAI”. ScanTech’s existing shareholders are expected to own 52% of the combined company.