Blue Acquisition, a blank check company targeting manufacturing and data centers, raised $175 million by offering 17.5 million units at $10. Each unit consists of one share of common stock and one right to receive one-tenth of a share upon the completion of an initial business combination.
Blue Acquisition is led by CEO and Director Ketan Seth, who currently serves as the CEO of "super app" Vezbi and AT Health, and Managing Partner of Alpha Trading. The SPAC plans to target a manufacturing company or data center that aligns with green energy initiatives and sustainable industrial practices, as well as software development in emerging technologies like AI, cybersecurity, and energy management.
Blue Acquisition plans to list on the Nasdaq under the symbol BACCU. BTIG acted as sole bookrunner on the deal.
