Noble Rock Acquisition, a blank check company formed by Noble Rock Advisors targeting the software and tech-enabled services sectors, filed on Tuesday with the SEC to raise up to $200 million in an initial public offering.
The Wilmington, DE-based company plans to raise $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, Noble Rock Acquisition would command a market value of $250 million.
The company is led by CEO and Chairman Whitney Bower, the founder and Managing Partner of Boston-based investment firm Noble Rock Advisors, and CFO and Director Pete Low, the former CFO of Saba Software and Halogen Software. The company plans to target businesses in the software and tech-enabled services sectors with enterprise values between $750 million and $3 billion.
Noble Rock Acquisition was founded in 2020 and plans to list on the Nasdaq under the symbol NRACU. The company filed confidentially on December 4, 2020. Stifel, Oppenheimer & Co. and William Blair are the joint bookrunners on the deal.
