Altitude Acquisition Corp

Special Purpose Acquisition Company (SPAC)altitudeac.com

Altitude Acquisition Corp was a Delaware SPAC that raised approximately $261 million in a December 2020 Nasdaq IPO, failed to complete a business combination within the required timeframe, and liquidated its trust account in March 2024 with all public shares redeemed.

Company typePublic
Founded2020
HeadquartersAtlanta, United States
Headcount1–10
GTM typeB2B
OfferingServices

What Altitude Acquisition Corp does

Altitude Acquisition Corp was a Delaware-incorporated special purpose acquisition company (SPAC), formed in 2020 and headquartered at 400 Perimeter Center Terrace, Suite 151 in Atlanta. The entity completed an initial public offering in December 2020, pricing 26,100,000 units at $10.00 per unit on Nasdaq under tickers ALTUU (units), ALTU (Class A common stock), and ALTUW (warrants), raising approximately $261 million with Cantor Fitzgerald & Co. as sole book-runner and Odeon Capital Group as lead manager. The stated mandate was to identify and consummate a business combination with travel, travel technology, or travel-related businesses with enterprise value of $1 billion or more, though no such transaction closed within the targeted sector.

The company's operating activities were limited to capital markets functions: managing the trust account, evaluating potential targets, filing SEC disclosures, and extending or amending the business combination deadline. In October 2022 the company disclosed a letter of intent to merge with a leading global medical device manufacturer, and on April 23, 2023, it entered into a definitive business combination agreement with Picard Medical, Inc. (parent company of SynCardia Systems, LLC). Despite multiple monthly extensions of the deadline from April 2023 through February 2024, the transaction was not consummated. On March 12, 2024, Altitude announced liquidation of its trust account, redemption of all public shares at approximately $10.1577 per share, and delisting from Nasdaq; the entity has since ceased operations.

Altitude Acquisition Corp firmographics

Firmographics

Name: Altitude Acquisition Corp
Legal name: Altitude Acquisition Corp.
Website: https://altitudeac.com
Company type: Public
Founded year: 2020
Operating status: Closed
Headcount range: 1–10 employees
Short description: Altitude Acquisition Corp was a Delaware SPAC that raised approximately $261 million in a December 2020 Nasdaq IPO, failed to complete a business combination within the required timeframe, and liquidated its trust account in March 2024 with all public shares redeemed.
Ownership category
akta.pro rank

Altitude Acquisition Corp industry classification

Industry

Product category: Special Purpose Acquisition Company (SPAC)
SIC: Security Brokers, Dealers & Flotation Companies (6211)
akta.pro primary industry: Capital Markets Advisory (IPO Readiness, SPAC, ECM/DCM Advisory) (BPAHAOAL)

Keywords

Special purpose acquisition company
Blank check company
Travel sector acquisitions
Business combination services
Public listing services

Where Altitude Acquisition Corp is headquartered

Location

Headquarters

HQ city: Atlanta
HQ country: United States
HQ region: North America

Offices1 record

Markets served

Altitude Acquisition Corp business model

Business model

GTM type: B2B
Offering type: Services
Cost components: Operations, Others, Personnel

Distribution channels1 record

Marketing channels3 records

Altitude Acquisition Corp product offering

Product offering

Core offering

Altitude Acquisition Corp was a blank check company (SPAC) formed to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company focused on travel, travel technology, and travel-related businesses with an enterprise value of $1 billion or more. Following a $261 million IPO in December 2020, the company attempted a business combination with Picard Medical, Inc. (parent of SynCardia Systems) but failed to consummate a deal and liquidated its trust account on March 12, 2024.

Product overview

Altitude Acquisition Corp. is a Special Purpose Acquisition Company (SPAC/blank-check company) incorporated in Delaware for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was formed with a focus on travel, travel technology, and travel-related businesses with an enterprise value of $1 billion or more. The company completed a $261 million initial public offering in December 2020 and subsequently entered into a business combination agreement with Picard Medical, Inc. (parent company of SynCardia Systems). The company has since liquidated its trust account and been delisted from Nasdaq as of March 2024, failing to complete an initial business combination within the required timeframe.

Differentiator

Problem solved

Functional benefit

Products and services

Business Combination Service (SPAC merger pathway) Core SPAC service offering a path to public listing through merger, capital stock exchange, asset acquisition, stock purchase, or reorganization with private operating companies in the travel, travel technology, and travel-related sectors with enterprise value of $1 billion or more.

Companies that use Altitude Acquisition Corp

Customer profile

Ideal customer profiles1 record

Altitude Acquisition Corp technology and API

Technology

Technology focussed No

API detail

Has API: No
API docs
API detail

Core technology

AI maturity

App detail

Altitude Acquisition Corp partnerships and signals

Strategic signal

Partnerships

One partnership is on record.

Picard Medical, Inc.coreStrategic or Co-development Partner · 23 April 2023On April 23, 2023, Altitude entered into a definitive business combination agreement with Picard Medical, Inc., the parent company of SynCardia Systems LLC (global leader in mechanical heart replacement technology). The transaction was intended to result in Picard becoming publicly listed. The merger was never completed before Altitude's liquidation in March 2024.

Scale indicators4 records

Recent moves7 records

Expansion highlights2 records

Altitude Acquisition Corp competitors and assessment

Company assessment

Direct peers

CF Acquisition Corp. V: Cantor Fitzgerald-sponsored SPAC focused on financial services that completed its combination with Satellogic. Highly comparable as Cantor Fitzgerald also served as sole book-runner on Altitude Acquisition Corp's IPO, making it a near-perfect structural and underwriter peer.
Spartacus Acquisition Corporation: Travel, leisure and consumer-focused SPAC with similar structure and $200M+ IPO size. Comparable as another travel-thesis SPAC from the 2020-2021 vintage that ultimately liquidated, mirroring Altitude's outcome and validating the broader sector-targeting challenges of that cohort.
Foresight Acquisition Corp. SPAC formed to identify a business combination in the travel, leisure and hospitality sectors, providing the most direct sector-thesis match to Altitude Acquisition Corp's stated $1B+ enterprise value travel target focus.
Holicity Inc. Space and travel technology-focused SPAC sponsored by Chamath Palihapitiya that merged with Astra. Comparable given similar $200-300M IPO size, 2020 vintage, travel/aviation adjacency, and Nasdaq unit structure.
Virgin Group Acquisition Corp II: Travel and consumer-focused SPAC sponsored by Virgin Group that completed its combination with Grove Collaborative. Comparable given parallel sector focus, similar unit structure with $11.50 warrants, and same 2020-2021 IPO vintage targeting large enterprise-value acquisitions in consumer/travel adjacencies.
Acamar Films Acquisition Corp. SPAC sponsored by Acamar Films that ultimately liquidated its trust in 2023 after failing to complete a business combination. Comparable given identical SPAC lifecycle (IPO → extension cycle → liquidation), similar size class, and parallel timing of trust redemption.
Altimeter Growth Corp: Travel/technology-focused SPAC sponsored by Altimeter Capital that completed a $40 billion business combination with Grab Holdings in 2021. Most directly comparable peer given overlapping travel-tech investment thesis, similar sponsor-driven IPO structure, and Nasdaq listing via units/share/warrant package.
Social Capital Hedosophia (multiple SPAC vehicles): Series of SPACs sponsored by Chamath Palihapitiya that executed high-profile de-SPAC transactions including Virgin Galactic and Opendoor. Comparable peer set given parallel IPO size class, identical unit/warrant structure, and travel/technology sector orientation during the 2020-2021 SPAC boom.

Others

Crawford & Company: NYSE-listed global insurance claims management firm where board member Hilton Sturisky served as Global CIO. Adjacent relationship rather than a competitive peer, included because it represents one of the senior operating roles underpinning Altitude's board-level industry expertise.

Broad incumbents

Cantor Fitzgerald & Co. Sole book-runner on Altitude's IPO and one of the most prolific SPAC underwriters during the 2020-2021 cycle. Broader incumbent given its role as repeat issuer/sponsor of multiple SPAC vehicles in the same structural class as Altitude Acquisition Corp.

Market position

Strengths1 record

Weaknesses4 records

Competitive moat2 records

Key risks5 records

Key highlights3 records

Customer concentration

Altitude Acquisition Corp financial estimates

Financial estimate

Revenue estimate

Valuation estimate

Altitude Acquisition Corp leadership team

Management profile

Number of profiles

Profiles4 records

Altitude Acquisition Corp funding detail

Funding detail

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

Altitude Acquisition Corp M&A and investment

M&A and investment

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Altitude Acquisition Corp

What does Altitude Acquisition Corp do?

Is Altitude Acquisition Corp a public or private company?

Altitude Acquisition Corp is a public company. It is classified as public and is currently closed.

When was Altitude Acquisition Corp founded?

Altitude Acquisition Corp was founded in 2020. It employs 1 to 10 people.

Where is Altitude Acquisition Corp based?

Altitude Acquisition Corp is headquartered in Atlanta, United States, in the North America region.

Who are Altitude Acquisition Corp's main competitors?

Direct peers on record are CF Acquisition Corp. V, Spartacus Acquisition Corporation, Foresight Acquisition Corp., Holicity Inc., Virgin Group Acquisition Corp II, Acamar Films Acquisition Corp., Altimeter Growth Corp and Social Capital Hedosophia (multiple SPAC vehicles). Crawford & Company is listed as an others. Cantor Fitzgerald & Co. is listed as a broad incumbent.

Does Altitude Acquisition Corp have an API?

No public API is recorded for Altitude Acquisition Corp.

What industry is Altitude Acquisition Corp in?

Altitude Acquisition Corp's product category is Special Purpose Acquisition Company (SPAC). Its primary akta.pro industry code is BPAHAOAL, Capital Markets Advisory (IPO Readiness, SPAC, ECM/DCM Advisory). Its SIC code is 6211.