EdtechX Holdings Acquisition Corp II is the world’s first education and education technology SPAC
Last updated: 11:15 18 May 2022 BST, First published: 14:30 18 Dec 2020 GMT
Snapshot
- EdtechX Holdings Acquisition Corp II and zSpace enter into definitive merger agreement
About the company
EdtechX Holdings Acquisition Corp II is the world’s first education and education technology Special Purpose Acquisition Company (SPAC). EdtechX Holdings intends to build an industry-leading platform of next-generation education and training businesses through the targeted acquisition, consolidation and development of companies that are growing, profitable and early adopters of technology.
How it is doing
EdtechX Holdings Acquisition Corp II (NASDAQ:EDTXU) and zSpace Inc said they have entered into a definitive merger agreement that would result in zSpace becoming publicly traded.
Following the anticipated closing of the proposed business combination, the combined company is expected to be named zSpace Technologies Inc and listed on the Nasdaq Stock Market under the new ticker symbol ZSPX.
zSpace is a leading provider of commercial augmented reality (AR) and virtual reality (VR) technology in the global education market. The company offers differentiated hardware along with immersive experiential learning software modules for K-12 science, technology, engineering, game design and mathematics (STEM) applications, as well as workforce-oriented career and technical education applications. Its easy-to-use technology delivers immersive and interactive learning experiences.
zSpace is currently deployed in 94% of the top 100 school districts in the US - including the top ten largest districts - and is used in workforce applications in 73% of these districts. With a userbase of over 2,400 US school customers and over one million students annually, zSpace is positioned to serve a growing community of learners around the globe.
EdtechX Holdings Acquisition Corp. II, the edtech-focused special purpose acquisition company (SPAC), has announced that it will use a pioneering method to evaluate the ESG (environmental, social and governance) credentials of potential target businesses in the edtech space.
The edtech investment platform said the proprietary methodology, one of the first of its kind in the edtech sector, was developed by European edtech investment platform EdtechX Holdings, along with specialist education technology investment bank IBIS Capital.
EdtechX Holdings (NASDAQ:EDTXU), an investment platform focusing on the future of education and work, is launching its second listed blank-check company and is looking to buy a business in the sector worth up to $2 billion.
Run by a Franco-British duo of financiers, EdtechX Holdings Acquisition Corp II is seeking to raise gross proceeds of up to $150 million by floating on New York's Nasdaq exchange, according to its prospectus filed on Monday.