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SPAC Mercury Ecommerce Acquisition prices $175 million IPO, formed by Mercury Fund

July 27, 2021
MEACU

Mercury Ecommerce Acquisition, a blank check company led by Mercury Fund management targeting the e-commerce sector, raised $175 million by offering 17.5 million units at $10, as expected. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50.

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 e-commerce sector, specifically businesses offering SaaS products and services to enterprise customers globally.

The Houston, TX-based SPAC plans to list on the Nasdaq under the symbol MEACU. Needham & Co. acted as sole bookrunner on the deal.