Israel-focused SPAC Gesher I Acquisition prices $100 million IPO

Gesher I Acquisition, a blank check company targeting Israeli businesses with international operations, raised $100 million by offering 10 million units at $10Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. Certain anchor investors had indicated on 79% of units in the offering, and the company may raise an additional $45 million at the closing of an acquisition pursuant to a forward purchase agreement with certain sponsor members and a third party.

The company is led by CEO and Director Ezra Gardner, a co-founder and Partner of investment firm Varana Capital, and co-founder and former Managing Partner and Portfolio Manager of family office Omnium Capital. The company plans to target businesses located in Israel, particularly those that conduct business internationally in Asia, Europe, or North America. It plans to focus on industry verticals where management has experience investing and collaborating, including mobility and electric vehicles, autonomy and robotics, and financial technology.

Gesher I Acquisition plans to list on the Nasdaq under the symbol GIACU. EarlyBirdCapital acted as sole bookrunner on the deal.