Mercury Ecommerce Acquisition, a blank check company led by Mercury Fund management targeting the e-commerce sector, filed on Friday with the SEC to raise up to $175 million in an initial public offering.
The Houston, TX-based company plans to raise $175 million by offering 17.5 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, Mercury Ecommerce Acquisition would command a market value of $219 million.
The company is led by Chairman Blair Garrou, the co-founder and Managing Director of venture firm Mercury Fund, and CEO and Director Andrew White, a Special Limited Partner for Mercury Fund and the founder of Sweat Equity Partners. The company plans to target the ecommerce sector, specifically businesses offering SaaS products and services to enterprise customers globally.
Mercury Ecommerce Acquisition was founded in 2021 and plans to list on the Nasdaq under the symbol MEACU. Needham & Co. is the sole bookrunner on the deal.
