Ark World-wide Acquisition, a blank test corporation led by a previous Groupon CEO and QIA fund manager targeting disruptive technological innovation, submitted on Wednesday with the SEC to raise up to $250 million in an preliminary general public providing.
The Nashville, TN-based enterprise programs to raise $250 million by presenting 25 million models at $10. Each unit is composed of a person share of prevalent stock and a person-3rd of a warrant, exercisable at $11.50. At the proposed offer dimensions, Ark World wide Acquisition would command a industry price of $313 million.
The business is led by CEO and Director Rich Williams, existing advisor at The Price Studio and former CEO of Groupon, and Chairman Sultan Almaadeed, founder of investment decision system ENVST and previous fund supervisor at the Qatar Expenditure Authority who served as Chairman of the Tender Committee. They are joined by CFO Stephen Krenzer, founder of Trabuco Canyon Advisors and previous COO of Groupon.
Ark International Acquisition intends to discover acquisitions of disruptive know-how providers with defensible market place positions and an enterprise worth of a lot more than $750 million, focusing on consumer online and marketplaces, healthtech, fintech and mobility businesses.
Ark Worldwide Acquisition was established in 2020 and options to listing on the Nasdaq below the symbol ARKI.U. Jefferies is the sole bookrunner on the offer.
The post Technologies SPAC Ark International Acquisition information for a $250 million IPO originally appeared on IPO financial investment manager Renaissance Capital’s website web-site renaissancecapital.com.
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