Global Technology Acquisition Corp. I Announces Closing of Upsized Initial Public Offering and Exercise of Over-Allotment Option Generating Total Gross Proceeds of $200m
Global Technology Acquisition Corp. I (the “Company”) announced today the closing of its initial public offering of 20,000,000 units (upsized from 15,000,000 units), which includes 2,500,000 units issued upon the exercise of the underwriter’s over-allotment option, at a public offering price of $10.00 per unit. The total gross proceeds of the initial public offering amounts to $200,000,000. Each unit consists of one Class A ordinary share and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share. The units are listed on the Nasdaq Global Market (“Nasdaq”) under the ticker symbol “GTACU”. Once the securities comprising the units begin separate trading, the Class A ordinary shares and redeemable warrants are expected to be listed on the Nasdaq under the symbols “GTAC” and “GTACW” respectively.
Global Technology Acquisition Corp. I is a newly formed blank check 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 or entities.
The Company is led by Fabrice Grinda (Executive Chairman), Arnau Porto (Chief Executive Officer) and Claudia Gast (Chief Financial Officer), who have significant experience in founding, operating and investing in successful technology companies. Fabrice Grinda is the co-founder of FJ Labs and among the world’s leading marketplace entrepreneurs and investors with over 150 exits on over 600 angel investments. Prior to co-founding FJ Labs, Mr. Grinda was the co-founder and co-CEO of OLX, one of the largest online marketplaces worldwide. Arnau Porto is the founder and Chief Investment Officer of Greentrail Capital. Prior to Greentrail Capital, Mr. Porto co-founded Blueport Capital, a California-based investment partnership backed by the Robert Bass family office. Before that, he was an investment analyst at Viking Global in New York and he started his career as an institutional investor at Blackstone in London.
This management team will be supported by independent directors and an advisory committee. The board of directors consists of Juan Villalonga, the former CEO and Chairman of Telefónica Group; Robert Perdue, the former COO of The Trade Desk; Gabriel Silva, the former CFO of Nubank and Michael Zeisser, the former chairman of US Investments of Alibaba Group. Their experiences in leading and globally scaling companies will provide the Company with highly valuable perspectives in sourcing a target company, and will be vital in supporting such target company in the successful growth to global scale.