Michael Blitzer’s SPAC Inflection Point Acquisition VI prices $220 million IPO
IPO Overview
Inflection Point Acquisition VI, a blank check company led by Michael Blitzer targeting technology-enabled businesses, raised $220 million by offering 22 million units at $10. Each unit consists of one share of common stock and one-third of one warrant, exercisable at $11.50.
The company is led by Chairman Michael Blitzer, the founder and Co-CEO of Kingstown Capital Management. He is joined by CEO Kevin Shannon, the co-founder and Partner of Inflection Point Management. The SPAC plans to target North American and European businesses in disruptive growth sectors.
Management’s previous SPACs include Inflection Point Acquisition III （IPCX; +2% from $10 offer price）， which announced its plan to merge with atmospheric water generation machine maker Air Water Ventures this past August; Inflection Point Acquisition II, which merged with rare earth miner and explorer USA Rare Earth （USAR; +60%） this past March; and Inflection Point Acquisition, which merged with space exploration company Intuitive Machines （LUNR; +92%） in February 2023.
Inflection Point Acquisition VI plans to list on the Nasdaq under the symbol IPFXU. Cantor Fitzgerald acted as sole bookrunner on the deal.
About the Company
We are a special purpose acquisition company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. While we may pursue an initial business combination in any industry, sector or geographic region, we intend to focus our search initially on North American and European businesses in disruptive growth sectors, which complements the expertise of our management team. Our company will combine the abilities of a diverse and founder-friendly management team. We have assembled a management team with experience across both public and private markets with deep roots in our target markets. Our team combines decades of experience sourcing, researching, and investing in complex transactions that create value for shareholders. We will seek fundamentally strong businesses in a broad range of disruptive growth sectors, with emphasis on one or more of the following attributes, although we may decide to enter into a business combination with a target business that does not have one or more of these attributes: Innovative, technology-enabled company of scale; Customer focused and deeply experienced team; Operates in an industry not typically active in traditional IPOs, among other characteristics.
