Parabellum Acquisition price its IPO of 12.5 million units at $10 each.
Units begin trading today on the NYSE under PRBM.U. Once the securities begin separate trading, shares and warrants are expected to list under PRBM and PRBM.WS.
The offering is expected to close Sept. 30.
Parabellum intends to focus on businesses with an enterprise value of $300 million to $1 billion that have unique technologies and business models, and are actively engaged in the Internet of Things (“IoT”) transformation in a variety of segments such as consumer, industrial, automotive, medical and others.
B. Riley Securities is sole book running manager for the offering. The manager has an option to purchase up to an additional 1.875 million units solely to cover any over-allotments. Read more.
