True Wind Capital's James Greene Jr looks to raise $1 billion via two U.S. SPACs

  • 3/15/2021
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(Reuters) - James Greene Jr., the co-founder of San Francisco-based buyout firm True Wind Capital LP, is looking to raise a total of $1 billion for two blank-check firms through initial public offerings, regulatory filings showed on Monday. Greene’s special purpose acquisition companies (SPACs), Brigantine Acquisition Corp and Mistico Acquisition Corp, are planning on selling 60 million units and 40 million units, respectively, on the Nasdaq Capital Market. They intend to price their offerings at $10 per unit each. Greene, a former general partner at private equity firm KKR & Co Inc, co-founded tech-focused True Wind Capital in 2013. The buyout firm managed worth more than $1.4 billion in assets as of Sept. 30, 2020. One of True Wind Capital’s earlier blank-check firms, Nebula Acquisition Corp, took lending solutions provider Open Lending LLC public in June last year through a merger. SPACs are shell companies that raise funds to acquire a private company with the intent of taking it public, allowing such companies to sidestep the hassles and scrutiny associated with a traditional IPO. Morgan Stanley, Deutsche Bank Securities and Evercore ISI are the underwriters for the offerings.

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