SPAC First Light Acquisition Group prices $200 million IPO, targeting tech-enabled solutions

First Light Acquisition Group, a blank check company tech-enabled solutions with applications in government and commercial markets, raised $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50.

Certain anchor investors had indicated on $200 million worth of units in the offering (100% of the deal), and the company may raise an additional $50 million at the closing of an acquisition pursuant to a forward purchase agreement with an affiliate of Franklin Templeton.

The company is led by CEO and Chairman William Weber, who is currently Managing Principal of WJW Advisors and previously served as the CEO of KeyW Corporation until its sale to Jacobs Engineering Group (NYSE: J). The company plans to target businesses that provide technology-enabled solutions with high-growth, mission-critical applications in government and commercial markets.

First Light Acquisition Group plans to list on the NYSE under the symbol FLAGU. Guggenheim Securities acted as sole bookrunner on the deal.