Galileo Acquisition Corp. is a blank check company, (known also as a Special Purpose Acquisition Corporation or “SPAC”), incorporated as a Cayman Islands exempted company for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, which we refer to as our initial business combination. On October 22, 2019, we closed our initial public offering of 13,800,000 units, including the exercise in full of the underwriter’s over-allotment option to purchase up to an additional 1,800,000 units. The offering was priced at $10.00 per unit, resulting in gross proceeds of $138,000,000.
While we may pursue an initial business combination target in any business, industry or geographical location, we intend to focus our search on targets operating in the Consumer, Retail, Food and Beverage, Fashion and Luxury, Specialty Industrial, Technology or Healthcare sectors which are headquartered in Western Europe or North America, with an emphasis on family-owned businesses, portfolio companies of private equity and venture capital funds, or corporate spin-offs, that have North America as one of its reference markets, and a clearly defined North American high growth strategy.
Our management team and strategic advisors have a substantial middle market cross-border investment track record and advisory experience, significant knowledge of both the North American and Western European markets, access to proprietary deal flow and strong relationships with business leaders and entrepreneurs on a pan-European basis. In addition, our Chairman and Chief Executive Officer has prior experience in consummating initial business combinations for blank check companies, having already sponsored four special purpose acquisition vehicles in Italy. Our management team and strategic advisors consists of seasoned dealmakers with experience in a wide variety of industries, structures and market conditions, as well as experienced equity and debt capital markets professionals. Most have worked both in the North American and Western European markets, as principal investors and as advisors, through different market cycles.
Galileo Founders GP Corp is the general partner of our sponsor. Galileo Founders GP Corp is controlled by Luca Giacometti, our Chairman and Chief Executive Officer and Alberto Recchi, our Chief Financial Officer and director. Certain investment funds managed by or affiliated with Magnetar Financial LLC are passive minority limited partners in our sponsor.
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