Ark International Acquisition, a blank verify company led by a previous Groupon CEO and QIA fund manager concentrating on disruptive engineering, filed on Wednesday with the SEC to increase up to $250 million in an initial community offering.
The Nashville, TN-based mostly corporation programs to elevate $250 million by providing 25 million models at $10. Each device consists of a person share of frequent inventory and a person-3rd of a warrant, exercisable at $11.50. At the proposed deal size, Ark World-wide Acquisition would command a current market benefit of $313 million.
The corporation is led by CEO and Director Abundant Williams, present advisor at The Worth Studio and former CEO of Groupon, and Chairman Sultan Almaadeed, founder of financial investment system ENVST and former fund manager at the Qatar Expenditure Authority who served as Chairman of the Tender Committee. They are joined by CFO Stephen Krenzer, founder of Trabuco Canyon Advisors and previous COO of Groupon.
Ark World wide Acquisition intends to take a look at acquisitions of disruptive technological know-how firms with defensible market place positions and an business price of more than $750 million, focusing on purchaser net and marketplaces, healthtech, fintech and mobility organizations.
Ark Worldwide Acquisition was founded in 2020 and designs to checklist on the Nasdaq underneath the symbol ARKI.U. Jefferies is the sole bookrunner on the offer.
The post Engineering SPAC Ark International Acquisition files for a $250 million IPO originally appeared on IPO financial investment manager Renaissance Capital’s world-wide-web web site renaissancecapital.com.
Investment Disclosure: The information and facts and opinions expressed herein had been organized by Renaissance Capital’s exploration analysts and do not represent an offer you to obtain or provide any security. Renaissance Capital’s Renaissance IPO ETF (image: IPO), Renaissance Worldwide ETF (symbol: IPOS), or separately managed institutional accounts could have investments in securities of corporations described.
The sights and opinions expressed herein are the views and thoughts of the author and do not necessarily reflect those of Nasdaq, Inc.