The new SPAC intends to focus on technology-focused areas including software, mobile and Internet of Things (“IoT”) applications, digital and energy transformation, cloud and cyber communications as well as high bandwidth services, including LTE, remote sensing, and 5G communications. Industrial Tech II is led by CEO and Chairman E. Scott Crist, and CFO R. Greg Smith.
Total SPAC deal count for 2022 year-to-date is now 8. This offering is expected to close on Friday, January 14.
Wells Fargo Securities acted as sole book running manager in the offering with Maxim Group LLC as co-manager. Ellenoff Grossman & Schole LLP is serving as Issuer’s Counsel with Proskauer Rose LLP serving as Underwriter’s Counsel. Marcum LLP serves as auditor. Continental Stock Transfer & Trust Company is acting as trustee.