Mercato Partners Acquisition, a blank check company formed by Mercato Partners targeting tech or branded consumer products, raised $200 million by offering 20 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 CEO and Chair Greg Warnock, a co-founder and Managing Director of private equity firm Mercato Partners. The company plans to leverage management's experience and target businesses in either the technology or branded consumer products sector that possesses the suitable characteristics to achieve attractive long-term risk adjusted returns.
Mercato Partners Acquisition plans to list on the Nasdaq under the symbol MPRAU. BofA Securities acted as sole bookrunner on the deal.
