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Tech SPAC Centurion Acquisition prices $250 million IPO

June 11, 2024

Centurion Acquisition, a blank check company targeting the tech sector, raised $250 million by offering 25 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50.

The company is led by CEO and Director Mark Gerhard, the CEO and CTO of video game developer and publisher JustWontDie; COO and Director Riaan Hodgson, the CFO and COO of JustWontDie; and President and Director David Gomberg, the co-founder of JustWontDie. The SPAC plans to target the tech sector, with a focus on video gaming, interactive entertainment and enabling services and technologies, and cybersecurity, among other areas.

Management's other SPACs include Ascendant Digital Acquisition III (ACDI.U), which liquidated in February; Ascendant Digital Acquisition II, which filed in early 2021 but withdrew in early 2022; and Ascendant Digital Acquisition, which merged with financial research platform MarketWise (Nasdaq: MKTW; -88% from $10 offer price) in 2021.

Centurion Acquisition plans to list on the Nasdaq under the symbol ALFUU. Cantor Fitzgerald acted as sole bookrunner on the deal.