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Technology SPAC Poema Global Holdings files for a $250 million IPO

December 18, 2020

Poema Global Holdings, a blank check company targeting technology businesses in Europe and Asia, filed on Friday with the SEC to raise up to $250 million in an initial public offering.

The San Francisco, CA-based company plans to raise $250 million by offering 25 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, Poema Global Holdings will command a market value of $313 million.

The company is led by Co-Chairmen Emmanuel DeSousa and Joaquin Rodriguez Torres, co-founders and Managing Partners of Princeville Capital. They are joined by CEO and Director Homer Sun, who previously served as CIO of Morgan Stanley Private Equity Asia, and President Marc Chan, who currently serves as Executive Director at Amprion. Poema Global Holdings intends to focus on rapidly growing, highly scalable companies with attractive unit economics in the technology sector, with a particular focus on businesses in Europe and Asia.

Poema Global Holdings was founded in 2020 and plans to list on the Nasdaq under the symbol PPGHU. Citi and UBS Investment Bank are the joint bookrunners on the deal.