Noble Rock Acquisition, a blank check company formed by Noble Rock Advisors targeting the software and tech-enabled services sectors, raised $210 million by offering 21 million units at $10. The company offered 1 million more units than anticipated. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50.
The company is led by CEO and Chairman Whitney Bower, the founder and Managing Partner of Boston-based investment firm Noble Rock Advisors, and CFO and Director Pete Low, the former CFO of Saba Software and Halogen Software. The company plans to target businesses in the software and tech-enabled services sectors with enterprise values between $750 million and $3 billion.
Noble Rock Acquisition plans to list on the Nasdaq under the symbol NRACU. Stifel, Oppenheimer & Co. and William Blair acted as lead managers on the deal.
