Smart tech SPAC Novus Capital Corp prices $100 million IPO at $10

Novus Capital Corp, a blank check company targeting the smart technology innovations market, raised $100 million by offering 10 million units at $10. Units consist of one share of common stock and one warrant exercisable at $11.50. The Indianapolis, IN-based SPAC originally filed in April with 1/2 warrants, before improving IPO terms to 3/4 warrants, and again upping the offering to include whole warrants.

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Chairman Robert Laikin is currently a managing member of L7 Investments and the Chairman of Washington Prime Group (NYSE: WPG); he was previously an executive at Ingram Micro, following its $650 million acquisition of Brightpoint, which Laikin founded in 1989. CEO Larry Paulson previously served as Qualcomm's VP of Sales in North America, and is also the founder and Principal of wireless consulting firm Rancho Santa Fe Solutions.

Novus Capital Corp currently intends to target the smart technology innovations market, specifically companies enabling the future evolution of 5G communication, artificial intelligence, cloud computing, and other areas.

Novus Capital Corp plans to list on the Nasdaq under the symbol NOVSU. EarlyBirdCapital acted as lead manager on the deal.