Anzu Special Acquisition Corp I
ANZU
NASDAQ Capital Market6.86
USD
+1.22
- -
Anzu Special Acquisition Corp I
ANZU
(NASDAQ Capital Market)
Recent
price
6.86
P/E
ratio
- -
div
yld
- -
ROIC.AI
Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Similar Companies
- Business
- Anzu Special Acquisition Corp I operates as a blank-check company, or special purpose acquisition company (SPAC), whose business is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The company targets high-quality businesses with transformative technologies primarily for industrial applications; it focuses on early- to late-stage companies developing innovative solutions in industrial and life sciences sectors, including those requiring capital for commercialization, market expansion or operational scaling. Anzu Special Acquisition Corp I holds no operational products or services prior to completing an initial business combination; its structure provides public market access via units comprising Class A common stock and redeemable warrants exercisable at $11.50 per share. Founded in 2020 and headquartered in Tampa, Florida, the SPAC conducted its initial public offering in March 2021, raising $420 million through 42 million units priced at $10 each, underwritten by BofA Securities and Barclays. Geographically, Anzu seeks merger targets across North America, Europe and Asia Pacific, sponsored by Anzu Partners, an investment firm managing approximately $1 billion in assets including venture funds and a revenue-based investing vehicle. The company extended its business combination deadline multiple times, from March 2023 to September 30, 2023, via stockholder approvals and forward purchase agreements totaling up to $120 million with investors including Arena Capital Advisors and Fir Tree Partners. In September 2023, Anzu Special Acquisition Corp I completed a reverse merger with Envoy Medical Corporation, a developer of fully implanted hearing technologies such as the FDA-designated Breakthrough Device Acclaim cochlear implant and the FDA-approved Esteem active middle ear implant. Post-merger, the combined entity trades on Nasdaq under the ticker symbols COCH (Class A common stock) and COCHW (warrants), with Envoy Medical, Inc. as the surviving public company headquartered in White Bear Lake, Minnesota. This transaction marked Anzu's principal strategic shift from a blank-check entity to a medical technology platform focused on ear, nose and throat solutions.