Paloma Acquisition I, a blank check company targeting gold, silver, and other precious metals, raised $150 million by offering 15 million units at $10. Each unit consists of one share of common stock and one-half of one warrant, exercisable at $11.50.
Paloma Acquisition I is set to be led by Chairman James Askew, a mining veteran who was previously Chairman of Federation Mining. He is joined by CEO Anna Nahajski-Staples, the Executive Chair of Moeghetti Minerals, and the founder of Paloma Investments, as well as CFO Peter Preston, who was previously a VP and Head of Strategic Planning and Operations at Veritone. The company plans to focus its acquisition efforts on companies operating or developing assets in precious metal sectors, including but not limited to gold and silver in the United States.
Paloma Acquisition I plans to list on the Nasdaq under the symbol PALOU. Jefferies acted as sole bookrunner on the deal.
