Berenson Acquisition I priced its IPO of 25 million units at $10 each. Units begin trading today on the NYSE under BACA.U. Each consists of one share and one-half of a warrant.
Once the securities begin separate trading, stock and warrants will list under BACA and BACA WS.
The company intends to focus on businesses operating in the software and technology-enabled services industry with an enterprise value in excess of $1 billion. Navigation Capital Partners is a member of the company’s sponsor group.
BofA Securities and Wells Fargo Securities are joint book-runners. The underwriters have an option to purchase up to 3.75 million additional units to cover over-allotments, if any. Read more.
