Eventbrite co-founder Kevin Hartz has revealed plans to raise up to $230m in a “blank check” IPO with the aim of completing a reverse merger with a yet-to-be revealed technology firm.
The new San Francisco-based company filed on Thursday with the SEC and will be offering 20 million units at $10.
Hartz has been joined at the new company, called One, by former ZeroDown chief operating officer Troy Steckenrider, Newfront Insurance chief executive Spike Lipkin and Eclipse Ventures investor Pierre Lamond.
The company is targeting a business in the tech industry, which could be linked to one of its founders, officers, or directors. If this is the case, an independent third party will be called upon to ensure that the transaction is fair.
Special purpose acquisition companies (SPACs), which are commonly known as “blank check” companies, are shell companies that have no operations but plan to go public with the intention of acquiring or merging with a company with the proceeds of the SPAC’s initial public offering (IPO).
The firm, One, plans to list on the New York Stock Exchange under the symbol AONE.U.