Pontem Corporation announced that it closed its upsized IPO of 60 million units at $10 per unit and the sale of an additional 9 million units at the same price pursuant to the underwriters’ full exercise of their over-allotment option. Total gross proceeds from the offering were $690 million — an 84 percent increase from the initial registration for a $375 million raise filed with the SEC in December.
The SPAc is led by Chairman and CEO Hubertus Mühlhäuser and Lead Director Burak Alici.
Pontem said it plans to target high growth, hybrid “industrial and technology” players in a prime position to reshape the industrial landscape. Read more.
