Social Leverage SPAC To Unlock Market Access To New Wave Technology Innovations

Social Leverage Acquisition I, a blank check company, filed an S-1 with the Securities and Exchange Commission to raise nearly $300 million in an initial public offering.

What Happened: Social Leverage is a venture capital firm specializing in early-stage software, consumer, and fintech investments.

As part of a vision to fuel and democratize investment in the next wave of technology innovation, the Arizona-based company will raise $300 million by offering 30 million units at $10. Units are comprised of one common stock share and one-third of a warrant, exercisable at $11.50.

Barclays and Bank of America Securities will underwrite the IPO. The company will be listed on the New York Stock Exchange under symbol "SLAC.U."

Why It Matters: Led by Executive Chairman Paul Grinberg, CEO and Director Howard Lindzon, as well as President and COO Douglas Horlick, Social Leverage will unlock access to innovations in fintech, software and technology.

Prior to focusing on disruptive innovations at Social Leverage, Lindzon co-founded StockTwits, a financial markets social media platform with over four million registered users. Grinberg, who also serves as Chairman of Axos Financial Inc AX, and Horlick, the founder of Estancia LLC, bring to market know-how and an unparalleled vision for the future.

According to the S-1, Social Leverage is well positioned to identify, invest, and acquire innovative and mission-driven companies.

“Through the extensive networks and investment expertise of our management team, we intend to identify high-growth technology companies with strong customer and user bases, highly motivated team cultures and visionary management teams that are capitalizing on large opportunities. We intend to focus on, but are not limited to, identifying innovative and mission-driven companies in the fintech, enterprise software or consumer technology sectors with an enterprise value of above $1 billion. We believe that the rapidly developing changes within these sectors have created a new generation of technology leaders that are highly attractive to public investors.”

Notable investments by Social Leverage include Robinhood, Kustomer, and TubeMogul.