SPAC Spree Acquisition prices $175 million IPO, targeting mobility-related tech

Spree Acquisition, a blank check company targeting mobility-related technology businesses, raised $175 million by offering 17.5 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. Meteora Capital Partners had indicated on $26 million worth of units in the offering (15% of the deal).

Spree Acquisition is led by Chairman and CEO Eran Plaut, co-founder and CEO of Polarity, an electric VTOL aircraft patent-pending technology. He is joined by CFO Shay Kronfeld, a former Managing Director in Maxim's Investment Banking Division, and COO Nir Sasson, founder and CEO of AI technology company Spatial Logic.

Spree Acquisition plans to list on the NYSE under the symbol SHAPU. Stifel acted as sole bookrunner on the deal.