Parsec Capital Acquisition Raises Deal Size by 50% Ahead of $75M IPO

Parsec Capital Acquisitions increased its deal size by 2.5 million units in an amended S-1 filing. The SPAC still plans to buy a business engaged in the space economy, technology or transport industries. Astro Aerospace is sponsoring the SPAC, which filed confidentially with the SEC in April.

A unit consists of one share of Class A common stock and one redeemable warrant; whole warrants exercisable at $11.50.

The SPAC is led by CEO and Director Patricia Trompeter, who is also the CEO and a director of Astro Aerospace.

EF Hutton is sole book-running manager of the offering. The underwriters have a 45-day option to purchase up to an additional 1.125 million units to cover over-allotments, if any.

The SPAC said it has been approved for a a listing on the Nasdaq under PCXCU. Read more.

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