Integral Acquisition 1, a blank check company targeting tech-oriented businesses in Australia and New Zealand, raised $100 million by offering 10 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 $99 million worth of units in the offering (99% of the deal).
The company is led by CEO and Director Enrique Klix, who most recently served as General Manager of Orora Cartons Australia (ASX: ORA), until its sale to Nippon Paper. His other former roles include serving as SVP of McKinsey & Co.'s recovery and transformation division in Australia and New Zealand, and CFO and Deputy CEO of McColl's Transport.
The company plans to target technology-oriented businesses in Australia and/or New Zealand, focusing on those operating in sectors such as artificial intelligence, cybersecurity, data analytics, Internet of Things, quantum computing, and SaaS.
Integral Acquisition 1 plans to list on the Nasdaq under the symbol INTEU. Wells Fargo Securities acted as sole bookrunner on the deal.
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