Berenson Acquisition I, a blank check company formed by merchant bank Berenson targeting software or tech-enabled services, raised $250 million by offering 25 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 Chairman Jeffrey Berenson, co-founder of sponsor Berenson Holdings, and CEO and Director Mohammed Ansari, the President and Senior Managing Partner of Berenson.
The company plans to target businesses in the software or technology-enabled services sectors, focusing on those with total enterprise values greater than $1 billion.
The New York, NY-based company plans to list on the NYSE under the symbol BACA.U. BofA Securities and Wells Fargo Securities acted as joint bookrunners on the deal.
