Belong Acquisition, a blank check company targeting high-growth tech and tech-enabled businesses, raised $150 million by offering 15 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50.
The company is led by CEO and Chairman Jennifer Deason, who most recently served as CFO and Chief Business Officer of the dtx company and Flowcode, and 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, focusing on those with enterprise values between $750 million and $1.5 billion.
Belong Acquisition plans to list on the Nasdaq under the symbol BLNGU. Wells Fargo Securities and Loop Capital Markets acted as joint bookrunners on the deal.
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