Plum Acquisition I, a blank check company formed by former VEON and Xerox CEO, raised $300 million by offering 30 million units at $10. Each unit consists of one share of common stock and one-fifth of a warrant, exercisable at $11.50.
The company is led by Executive Chairwoman Ursula Burns, the former CEO of VEON and Xerox, and CEO and Director Clay Whitehead, the founder and Managing Partner of Pomegranate Ventures. The company plans to target businesses that leverage platform models in enterprise software, SMB software, and infrastructure, or disruptive marketplace models in verticals where management has extensive expertise, such as business automation, health and wellbeing, fintech, and insurtech.
Plum Acquisition I plans to list on the Nasdaq under the symbol PLMIU. Goldman Sachs acted as a lead manager on the deal.
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