Build Acquisition, a blank check company formed by BuildGroup targeting software and tech-enabled services, raised $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50.
The company is led by Co-CEO and Chairman Lanham Napier, the co-founder and CEO of investment manager BuildGroup, and Co-CEO and Director Zeynep Young, the former CEO of government technology company Calytera. The company plans to target software and technology-enabled services businesses, with a primary focus on North American markets.
Build Acquisition plans to list on the NYSE under the symbol BGSX.U. Cowen and Allen & Company acted as lead managers on the deal.
