Solarius Capital Acquisition, a blank check company targeting asset and wealth management businesses, raised $150 million by offering 15 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50.
Solarius Capital Acquisition is led by CEO Richard Haywood Jr., who currently serves as co-owner and Managing Director of investment banking firm Cambridge International Partners, and Chairman Mohsen Fahmi, who currently serves as a guardian of the board of Sarawak Sovereign Wealth Future Fund and previously was an advisor to PIMCO.
The SPAC plans to target businesses that complement management's background and experience, including in the asset management, wealth management, and financial services markets, focusing on those in Europe with enterprise values between $500 million and $2 billion.
Solarius Capital Acquisition plans to list on the Nasdaq under the symbol SOCAU. Stifel acted as sole bookrunner on the deal.
