Berenson Acquisition I said the underwriters of its IPO partially exercised their over-allotment option, purchasing an additional 2.51 million at the $10 IPO price. After giving effect to the exercise of the option, the SPAC raised $275.1 million.
The SPAC intends to focus on businesses operating in the software and technology-enabled services industry with a total enterprise value in excess of $1 billion. Navigation Capital Partners is a member of the sponsor group.
BofA Securities and Wells Fargo Securities were joint book-runners of the offering. Read more.
