Meridian3 Industrials Acquisition, a blank check company targeting industrial technology, raised $175 million by offering 17.5 million units at $10. Each unit consists of one share of common stock, and one-half of one warrant to purchase a share, exercisable at $11.50.
Meridian3 Industrials Acquisition is led by CEO and Director F. Jeremey Mistry, the co-founder of Pali Hill Capital Management. He is joined by CFO Jeffrey Foster, who is a member of Cloud Capital, which he was formerly the CFO of. The SPAC intends to target the industrial technology sector, specifically focusing on "Industry 4.0," smart manufacturing, and next-generation mobility.
The New York, NY-based company will trade on the Nasdaq under the symbol MIACU. Cantor Fitzgerald acted as sole bookrunner on the deal.
