Tech and consumer-focused SPAC Emerging Markets Horizon prices $250 million IPO

Emerging Markets Horizon, a blank check company led by the Vice Chair of Russia's VTB Capital targeting high-growth tech and consumer, raised $250 million by offering 25 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 Director Riccardo Orcel, the Vice Chairman and former Head of Global Banking at Russian investment bank VTB Capital, and CFO and Director Bernard Abdelmalak, a Director within VTB Capital's finance function. The company plans to target high growth technology and consumer-exposed businesses in Central and Eastern Europe, Russia, or the Commonwealth of Independent States, focusing on those with enterprise values of at least $700 million.

Emerging Markets Horizon plans to list on the Nasdaq under the symbol HORIU. Citi and VTB Capital acted as joint bookrunners on the deal.