Bleichroeder Acquisition I, a blank check company formed by investment veterans targeting the TMT sector, filed on Friday with the SEC to raise up to $250 million in an initial public offering.
The New York, NY-based company plans to raise $250 million by offering 25 million units at $10. Each unit consists of one share of common stock and one-quarter of a warrant, exercisable at $11.50. At the proposed deal size, Bleichroeder Acquisition I would command a market value of $313 million.
The SPAC was formed by CEO and Chairman Andrew Gundlach, who currently serves as Co-CEO of Bleichroeder, a registered investment advisor focused on ultra-high-net-worth families, and Michel Combes, whose previous roles include serving as CEO of SoftBank Group International and Sprint. The company plans to target businesses in the technology, media, and telecommunications (TMT) sector, as well as sectors that are being transformed via technology adoption.
Bleichroeder Acquisition I was founded in 2024 and plans to list on the Nasdaq under the symbol BACQU. Santander is the sole bookrunner on the deal.
