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    Home»Fundraising»Activist Elliott Seeks $1.5 Billion in Two Blank-Check Listings
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    Activist Elliott Seeks $1.5 Billion in Two Blank-Check Listings

    February 20, 20211 Min Read
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    Activist investor Elliott Management Corp. filed on Friday to set up two special purpose acquisition companies raising a combined $1.5 billion.

    Elliott Opportunity I Corp. is seeking to raise $1 billion, while Elliott Opportunity II Corp. is targeting $500 million, documents filed with the U.S. Securities and Exchange Commission show.

    Both of the blank-check firms count Jesse Cohn and Gordon Singer as co-chairmen. Cohn and Singer — the son of Elliott founder Paul Singer — are managing partners at the activist investment firm.

    Each unit of the SPAC comprises one Class A share and one-fourth of a redeemable warrant. While the vehicles can acquire targets in any sector, they plan to focus on technology companies, the filings show.

    David Kerko, head of North America private equity at Elliott, and Isaac Kim, managing partner at the firm’s private equity affiliate Evergreen Coast Capital, are co-chief executive officers of the SPAC. Kerko, a former co-head of the technology group at KKR & Co., joined Elliott in 2021, the filing shows.

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    Source: BNN Bloomberg

    By Crystal Tse and Scott Deveau

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    Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.

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