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Israel Amplify Program files for $200m NYSE SPAC

Israel Materials 31 March 2021 10:26 (UTC +04:00)
Israel Amplify Program files for $200m NYSE SPAC

Israel Amplify Program Corp., a special purpose acquisition company (SPAC), has filed to raise $200 million on the New York Stock Exchange (NYSE). The blank check company will seek to merge with an Israeli tech company, Trend reports with reference to Globes.

The SPAC is backed by Israeli venture capital funds Pitango and Sphera, as well as the Amplify Group, chaired by Chemi Peres, who will serve as chairman of the SPAC. The CEO of the SPAC will be Asher Levy, who previously served as Orbotech Ltd. (Nasdaq: ORBK) CEO until it was sold to KLA in 2019. Amichai Steimberg, a former VP at Orbotech will serve as president and COO of Amplify and Pitango partner Rami Kalisch will be a director.

Amplify is the seventh Israeli SPAC to file for an IPO on Wall Street in recent months, bringing the total amount raised to over $1.6 billion, if all the offerings go ahead.

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