Warrior Technologies Acquisition, a blank check company targeting a business in the environmental services sector with strong ESG practices, filed on Friday with the SEC to raise up to $200 million in an initial public offering.
The Midland, TX-based company plans to raise $200 million by offering 20 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, Warrior Technologies Acquisition would command a market value of $250 million.
The company is led by CEO, CFO, and Chairman H.H. "Tripp" Wommack III, the founder and CEO of environmental solutions firm Warrior Technologies. Wommack previously founded Petro Waste Environmental, Saber Resources, and Southwest Royalties. The company plans to target businesses in the environmental services sector that have strong environmental, social, and governance (ESG) practices.
Warrior Technologies Acquisition was founded in 2020 and plans to list on the NYSE under the symbol WARR.U. The company filed confidentially on August 11, 2020. Raymond James and EarlyBirdCapital are the joint bookrunners on the deal.
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