SPAC Plum Acquisition I files for a $300 million IPO, led by the former CEO VEON and Xerox
Plum Acquisition I, a blank check company formed by former VEON and Xerox CEO, filed on Friday with the SEC to raise up to $300 million in an initial public offering.
The San Francisco, CA-based company plans to raise $300 million by offering 30 million units at $10. Each unit consists of one share of common stock and one-fifth of a warrant, exercisable at $11.50. At the proposed deal size, Plum Acquisition I would command a market value of $375 million.
The company is led by former VEON and Xerox CEO, Chairman Ursula Burns, as well as Pomegranate Ventures founder, CEO Clay Whitehead. The company is focused on investments that relate directly to the experience of its team, seeking to partner with businesses that leverage platform models in enterprise software, SMB software, and infrastructure, or disruptive marketplace models in verticals where management has extensive expertise, such as business automation, health and wellbeing, fintech and insuretech.
Plum Acquisition I plans to list on the Nasdaq under the symbol PLMIU. Goldman Sachs is the sole bookrunner on the deal.
The article SPAC Plum Acquisition I files for a $300 million IPO, led by the former CEO VEON and Xerox originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
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