Mount Rainier Acquisition registered with the SEC to offer 15 million units at $10 each. A unit consists of one share of common stock and one warrant. Each warrant entitles the holder to purchase one-half of a share at $11.50 per whole share.
The underwriters have a 45-day option to purchase up to an additional 2.25 million units to cover any over-allotments.
The new SPAC is focused on tech companies with an enterprise value of $500 million to $2 billion.
Mount Rainier Acquisition is led by CEO Matthew Kearney, who has over 30 years of experience as an investor, executive and director in mergers and acquisitions in the United States and United Kingdom in the areas of private equity, technology and wealth management.
The SPAC intends to apply for a listing on the Nasdaq under RNERU. Read more.
