Burgundy Know-how Acquisition, a clean test firm fashioned by the previous CEO of HP and a former Citi govt focusing on the tech business, raised $300 million by providing 30 million models at $10. Every unit consists of 1 share of widespread inventory and one-half of a warrant, exercisable at $11.50. The Cayman Islands-based SPAC had initially filed to supply 40 million models, earlier than decreasing its phrases on Tuesday.
The corporate is led by Co-CEO and Chairman Leo Apotheker and Co-CEO and CFO Jim Mackey.
The corporate plans to focus on the know-how sector, notably firms in enterprise software program or technology-enabled providers with an enterprise worth between $750 million and $2 billion.
Burgundy Know-how Acquisition plans to checklist on the Nasdaq beneath the image BTAQU. Mizuho Securities acted as sole bookrunner on the deal.
The article Tech SPAC Burgundy Technology Acquisition prices downsized $300 million IPO at $10 initially appeared on IPO funding supervisor Renaissance Capital’s web page renaissancecapital.com.
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