Tristar Acquisition I, a blank check company backed by Navigation Capital targeting a telecom and tech business, filed on Friday with the SEC to raise up to $250 million in an initial public offering.
The Atlanta, GA-based company plans to raise $250 million by offering 25 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50. At the proposed deal size, Tristar Acquisition I would command a market value of $313 million.
The company is led by CEO and Chairman William Mounger II, the CEO of telecom and technology search firm Tristar Technologies. Navigation Capital co-founder and Managing Partner Robert Willis serves as a Director. The company plans to target the telecommunications and technology sectors, focusing on businesses with a strong and experienced management team and a defensible market position, among other characteristics.
Tristar Acquisition I was founded in 2021 and plans to list on the NYSE under the symbol TRIS.U. Wells Fargo Securities is the sole bookrunner on the deal.
