Industrial tech SPAC Pontem Corp. today registered additional units to upsize its planned IPO by a thirds to $500 million from the initial $375 million.
Pontem said it plans to target high growth, hybrid “industrial and technology” players in a prime position to reshape the industrial landscape. The focus is on two types of companies: established high-quality businesses that have sustainable competitive advantages such as differentiated product or manufacturing technologies or unique brand attributes; and disruptive businesses with unique technologies and solid business models.
The SPAC is led by Chairman and CEO Hubertus Muehlhaeuser, previously CEO of CNH Industrial NV.
Pontem will trade on the NYSE under PNTM.U. Read more.
