Focus Impact Acquisition in an amended S-1 filing disclosed it now plans to offer 20 million units at $10 each, down from the 25 million units registered in its initial April filing.
A unit still consists of one share of Class A common stock and one- half of a warrant; whole warrants exercisable at $11.50.
The SPAC will target social-forward companies in the 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.
Citigroup and Goldman Sachs are joint book-running managers of the offering. CastleOak and Siebert Williams Shank are co-managers. The underwriters have an option to purchase up to an additional 3 million units to cover any over-allotments.
The SPAC intends to apply for a listing on the Nasdaq under FIACU. Read more.
