Israeli tech SPAC Moringa Acquisition prices $100 million IPO

Moringa Acquisition, a blank check company targeting an Israel-related technology business, raised $100 million by offering 10 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50.

The company is led by CEO and Chairman Ilan Levin, who most recently held various roles at 3D printing firm Stratasys (Nasdaq: SSYS), including CEO; CFO Gil Maman, who previously served as VP of Corporate Development and Strategy at SimilarWeb; and Vice Chairman Craig Marshak, who is Managing Director of Israel Venture Partners and previously was a Managing Director and Global Co-Head of the Nomura Technology Investment Growth Fund. The company plans to focus on mid-size Israel-related technology companies that have a proven model of commercial success and a track record in generating and growing revenues, though it will also seek to identify companies that are developing disruptive technology.

Moringa Acquisition plans to list on the Nasdaq under the symbol MACAU. EarlyBirdCapital and Moelis & Company acted as lead managers on the deal.