Focus Impact Acquisition registered with the SEc to offer 25 million units at $10 each. A unit consists of one share of Class A common stock and one- half of one warrant; whole warrants exercisable at $11.50. The underwriters have a 45-day option to purchase up to an additional 3.75 million units to cover any over-allotments. The SPAC’s sponsor will purchase 7.5 million warrants (or 8.25 million if the underwriters fully exercise their option) at $1 per warrant.
The new SPAC said it will target social-forward, high-growth businesses in EdTech, technology-enabled manufacturing and services, FinTech, and Health Tech sectors, as well as on compelling companies in these or other sectors led by, founded by or serving BIPOC (black, indigenous and people of color) or women.
Focus Impact is led by Chairman Wes Moore, CEO of Robin Hood Foundation, one of the nation’s largest anti-poverty focused charities.
The SPAC intends to apply for a Nasdaq listing but has not yet slected a ticker symbol. Read more.
