PROOF Acquisition Corp. I announced the pricing of its upsized $240 million IPO and its units are expected to begin trading on the NYSE under the symbol “PACI.U” Wednesday, December 1.
The new SPAC intends to identify and merge with a business that has the potential to achieve sustainable growth and which addresses a large and growing market. PAC I believes there are attractive trends in several industries, including the enterprise software, healthcare, financial technology, and consumer sectors, although it may pursue an acquisition in any business industry or sector. PROOF I is led by Chief Executive Officer and Member of the Board John C. Backus, Jr., Chief Financial Officer Steven P. Mullins, General Counsel and Corporate Secretary Michael W. Zarlenga, and Chairman of the Board Peter C. Harrison.
Total SPAC deal count for 2021 year-to-date is now 564. This offering is expected to close on Friday, December 3.
BofA Securities is acting as the sole book-running manager for the offering. Steptoe & Johnson LLP is serving as Issuer’s Counsel with Deringer US LLP serving as Underwriter’s Counsel. Marcum LLP serves as auditor. Continental Stock Transfer & Trust Company is acting as trustee.
Globa Terra Acquisition Corporation (NASDAQ:GTERU) announced the pricing of its $152 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “GTERU”, Wednesday, July 9, 2025. The new SPAC plans to mount a search for a target in the agriculture, agtech or biotech sectors with an emphasis on water...
M3-Brigade V (NASDAQ:MBAV) has entered into a definitive agreement to combine with crypto treasury firm ReserveOne, assembling about $1 billion in equity funding. ReserveOne is setting up a diversified Bitcoin and digital asset treasury with a portion of its investments going towards blockchain infrastructure and venture raises. The combined company is expected to trade on...
At the SPAC of Dawn As the SPAC market has warmed in 2025, only 21 of the 70 SPACs (30%) that have IPO’d thus far have overfunded their trusts to draw in investors and none of these funded to more than 101%. By contrast, 87% of 2023 SPACs were overfunded – some to as high...
Emmis Acquisition Corporation (NASDAQ:EMISU) has filed for a $100 million SPAC to take a look at the manufacturing sector after a few unique wrinkles in their IPO process. Initial investors are set to receive one right to a 1/10 share in each unit purchased and the SPAC will have 18 months to complete a business...
Chenghe III (NASDAQ:CHEC.U) has filed for a $110 million SPAC to continue the team’s growing series while turning to a new underwriter. The new SPAC is offering investors a 1/2 warrant in each unit and no overfunding of the trust, but it will need to complete a business combination within 18 months of its IPO...