IPO for SPAC ScION Tech Growth II (SCOB) Opens at $10.50

February 10, 2021 10:36 AM EST

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Today's IPO for SPAC ScION Tech Growth II (NASDAQ: SCOB) (NASDAQ: SCOBU) opened for trading at $10.50 after pricing 30,000,000 units at $10.00 per unit.

ScION is a newly organized blank check company incorporated for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue an acquisition opportunity in any industry or sector, the Company intends to focus its search for an initial business combination on technology-enabled businesses that offer specific technology solutions, broader technology software and services in the financial services sector.

The Company is sponsored by an affiliate of ION Investment Group Limited (“ION”), a technology software investment company and an operator of global technology businesses, providing mission-critical workflow automation software, data and analytics to financial institutions, governments and corporations around the world.

The Company is led by Executive Chairman Andrea Pignataro, ION’s founder, Chief Executive Officer Mathew Cestar, the former Co-Head of Credit Suisse’s EMEA Investment Banking and Capital Markets division, and Chief Financial Officer Alex Triplett, ION’s Head of Corporate Development.

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