Space SPAC Parsec Capital Acquisitions prices $75 million IPO

Parsec Capital Acquisitions, a blank check company targeting space transport and technology, raised $75 million by offering 7.5 million units at $10. Each unit consists of one share of common stock and one whole warrant, exercisable at $11.50.

Parsec Capital Acquisitions is led by CEO and Chair Patricia Trompeter, the former CFO of GE Capital, and CFO and Director Paul Haber, Managing Director of Toronto-based merchant bank Summit Bancorp. The company aims to leverage management's experience to target businesses with enterprise values between $100 million and $300 million in the space economy, transport, and technology industries.

Parsec Capital Acquisitions plans to list on the Nasdaq under the symbol PCXCU. EF Hutton acted as sole bookrunner on the deal.