SPAC Enterprise 4.0 Technology Acquisition prices upsized $261 million IPO

Enterprise 4.0 Technology Acquisition, a blank check company targeting "Enterprise 4.0" businesses, raised $261 million by offering 26.1 million units at $10. The company offered 1.1 million more units than anticipated. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50.

The company is led by CEO and Director Eric Benhamou, the founder and General Partner of Benhamou Global Ventures, a venture firm now investing in Enterprise 4.0 companies. Benhamou also previously founded and served as President and CFO of ChaSerg Technology Acquisition, which completed its combination with Grid Dynamics (GDYN) in 2020.

Enterprise 4.0 Technology Acquisition plans to target Enterprise 4.0 companies, which it defines as cloud native companies that combine artificial intelligence, intelligent automation, and proprietary access to data to deliver actionable insights for enterprise businesses.

Enterprise 4.0 Technology Acquisition plans to list on the Nasdaq under the symbol ENTFU. Cantor Fitzgerald and Mizuho Securities acted as joint bookrunners on the deal.