PROOF Acquisition I registered to offer 20 million units to be priced at $10 each. A unit consists of one share and one-half of a warrant.
Management in the filing cited expertise in enterprise software, health care, financial technology and consumer sectors, although the SPAC said it would not limit its search to any particular sector.
CEO and Director John Backus is a founder and managing director of PROOF.VC, a venture capital firm focused on monetizing expiring pro rata rights.
BoA is sole book-runner. The underwriter has a 45-day option to purchase up to 3 million additional units to cover over-allotments, if any.
PROOF has applied to list on the NYSE under PACI.U. Read more.
