Washington DC-based Strategic Cyber Ventures (SCV) has announced the Initial Public Offering
(IPO) of SCVX, a Special Purpose Acquisition Company
(SPAC) that will fill a tremendous operational void in the cybersecurity market
for a scalable, comprehensive, cybersecurity platform.
As the first cybersecurity-focused SPAC, SCVX is a blank check company that will be providing a fast track IPO channel for cybersecurity businesses to unlock value and accelerate growth in the consolidating cybersecurity space. SPAC vehicles provide immediate liquidity in the form of cash and stock while allowing current equity holders to maintain control. The SCVX team believes that this concept will resonate with many venture backed firms in the space, that are the right stage of maturity, and considering what to do next. SCVX intends to focus on businesses in the cybersecurity industry globally with enterprise valuations in the range of $600 million to $1.5 billion.
SCVX will place an emphasis on consolidating in-demand security technology into one highly capable, well resourced, publicly traded company. The company’s leadership and BOD, which includes a ‘who’s who’ of cyber experts, aims to fill a tremendous operational void in the cybersecurity market for a scalable, comprehensive, cybersecurity platform.
SCVX’s mission is to acquire, partner with, and integrate an in demand security technology, or multiple technologies, into one highly capable, well resourced, publicly traded company. The SCVX team was purpose built to identify and advise best in breed teams and technologies capable of rapid growth and innovation needed to push beyond the existing boundaries of security.
At the core of how SCVX is going to successfully bring SPACs to the cybersecurity industry is the SCVX SPAC team which includes:
- Mike Doniger — SCVX CEO & Chairman of the Board
- Hank Thomas — SCVX CTO & Board Director
- Senator Dan Coats — Former Director of National Intelligence
- Jeff Lunglhofer — Chief Information Security Officer at BNY Mellon
- Vivian Schneck-Last — Former Managing Director at Goldman Sachs
- Sounil Yu — Former Chief Security Scientist at Bank of America
- Chris Ahern — SCVX CFO
SCVX recently priced its $230 million IPO and is
now listed on the NYSE. Credit Suisse is acting as sole book-running manager.
The Company has granted the underwriter a 45-day option to purchase up to an
additional 3,000,000 units at the initial public offering price to cover
over-allotments, if any.