Technology-focused SPAC Carney Technology Acquisition II files for a $350 million IPO

Carney Technology Acquisition II, a blank check company targeting the technology industry, filed on Friday with the SEC to raise up to $350 million in an initial public offering.

The Burlingame, CA-based company plans to raise $350 million by offering 35 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable $11.50. At the proposed deal size, Carney Technology Acquisition II would command a market value of $447 million.

The company is led by CEO, CFO, and Chairman David Roberson, who most recently served as SVP of Enterprise Servers, Storage and Networking at Hewlett-Packard, and Chief Acquisition Officer Lloyd Carney, who previously founded SPAC ChaSerg Technology Acquisition and served as CEO until its business combination with Grid Dynamics Holdings (GDYN; -11% from $10 offer price) in March of this year. Carney Technology Acquisition II plans to target technology companies

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