Blank Check Company One Announces Pricing of $200 Million IPO

One, a newly-organized blank check company founded and led by technology industry veteran Kevin Hartz, has announced the pricing of a $200 million initial public offering this week.

The offering consists of 20,000,000 units at a price of $10.00 per unit and each unit issued in the public offering consists of one Class A ordinary share and one-fourth of one redeemable warrant to purchase one Class A ordinary share at a price of $11.50 per share.

The underwriters have a 45-day option to purchase up to 3,000,000 additional units to cover over-allotments, if any.

The units were listed on The New York Stock Exchange and traded under the ticker symbol “AONE.U” on August 18th.

Once the securities comprising the units begin separate trading, the Class A ordinary shares and redeemable warrants are expected to be listed on the NYSE under the symbols “AONE” and “AONE WS,” respectively.

The company’s stock price closed up 1% at $10.10 on the New York Stock Exchange. One is targeting fast-growing tech startups valued at around $1 billion, joining the race among special purpose acquisition companies (SPACs) looking to take so-called unicorns public.

“It’s capital to help the company grow and expand, but also cross over into the public market,” Hartz said in an interview. “We’re not big-name hunting today. We hope to have that size of company in the future.”

“We heard from so many founders that they want to get out to the public markets sooner,” said Hartz.

“We’re looking to buttress them as special founders and operators to really help founders build something enduring.”