Proem Acquisition I, a blank check company led by Proem Asset Management executives targeting global tech, raised $130 million by offering 13 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50.
Proem Acquisition I is led by CEO and Chairman Imran Khan, founder, CIO, and Partner at Proem Asset Management. He's also the founder and former CEO of e-commerce company Verishop, and previously served as CSO of Snap (NYSE: SNAP). The SPAC plans to target global technology businesses with strong growth potential and innovative capabilities, that offers disruptive technology, and has a large addressable market, among other characteristics.
Proem Acquisition I plans to list on the Nasdaq under the symbol PAACU. Clear Street acted as sole bookrunner on the deal.
