NorthStrive Acquisition I, a blank check company led by the head of M&A at NorthStrive Companies targeting manufacturing firms, raised $100 million by offering 10 million units at $10. Each unit consists of one share of common stock, one warrant to purchase a share that is exercisable at $11.50, and one right to receive one-quarter of a share at the time of the business combination.
NorthStrive Acquisition I is led by CEO Michel Tamer, the Managing Director of M&A at NorthStrive Companies, and former Managing Partner at PMC Capital Partners. He is joined by CFO James Dawson, the Controller of GB Capital.
The SPAC intends to target companies in the manufacturing sector serving high-growth demand markets, including, but not limited to, aerospace and defense, industrial technology, and critical supply chains.
The Newport Beach, CA-based company will trade on the Nasdaq under the symbol NSAIU. D. Boral Capital acted as sole bookrunner on the deal.
