First Light Acquisition Group registered to offer 20 million units at $10 each. A unit consists of one share of Class A common stock and one-half of one redeemable warrant. Each whole warrant is exercisable for a share at $11.50.
The new SPAC plans to target companies that provide technology-enabled solutions with high-growth, mission-critical applications in government and commercial markets.
First Light is led by CEO, President and Chairman William Weber, who most recently served as president, CEO and director of KeyW. The company is engaged in cyber operations and warfare, data analytics and geospatial intelligence solutions for U.S. government intelligence and defense customers, and commercial enterprises.
Guggenheim is sole book-running manager of the offering. The underwriter has an option to purchase up to an additional 3 million units to cover over-allotments, if any.
The SPAc intends to apply for a listing on the NYSE under FLAGU. Read more.
