Belong Acquisition, a blank check company targeting high-growth tech and tech enabled businesses, filed on Thursday with the SEC to raise up to $150 million in an initial public offering.
The Philadelphia, PA-based company plans to raise $150 million by offering 15 million units at $10. Each unit will consist of one share of common stock and one-third of a warrant, exercisable at $11.50. At the proposed deal size, Belong Acquisition will command a market value of $194 million.
The company is led by CEO and Chairman Jennifer Deason, who recently served as CFO and Chief Business Officer of the dtx company and Flowcode, and previously was EVP and Head of Business Strategy and Development at Sotheby's. She is joined by CFO and President Peter Saldarriaga, who is currently a private investor and previously worked in private equity at Bain Capital. Belong Acquisition intends to focus on identifying high-growth technology and tech-enabled businesses in sectors such as e-commerce, software, and digital media.
Belong Acquisition was founded in 2020 and plans to list on the Nasdaq under the symbol BLNGU. It filed confidentially on February 2, 2021. Wells Fargo Securities and Loop Capital Markets are the joint bookrunners on the deal.
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