Craig McCaw, fresh from sealing a deal to merge one special purpose acquisition company (SPAC) with a rocket developer, has launched a solicitation for a second such financial vehicle. And they even rhyme.
The cellular telephone pioneer’s first entry into the SPAC game, called Holicity, raised $300 million in late 2020 and last week unveiled plans to merge with Astra, a California-based maker of small rockets used to send satellites into orbit.
On Friday, McCaw filed papers for another Kirkland-based SPAC to be named Colicity. Like the first, its avowed purpose is to raise $275 million and then combine with a still-undetermined business found in the “technology, media and telecommunications” sectors.