Big Sky Growth Partners Inc., a special purpose acquisition company, raised $300 million in an initial public offering completed May 3. The units consist of shares of Class A common stock and one-fourth of a warrant and are listed on the Nasdaq Capital Market. This is the first SPAC offering with warrants priced after the SEC’s April accounting guidance on SPACs.
The company intends to focus its search for a merger partner on digitally native internet retail and direct-to-consumer companies. Big Sky’s CEO and chairman, Mark Vadon, co-founded Zulily and Blue Nile and served as chairman of Chewy. President and director Paul Ferris is a founding general partner with Azure Capital, an early stage technology focused venture capital firm.
S&C advised Goldman Sachs & Co. LLC, the sole book-running manager of the IPO.
The S&C team was led by Bob Downes. Tracey Russell advised on FINRA and blue sky matters. Jeffrey Hochberg and Saul Brander advised on tax matters.