Bleichroeder Acquisition I, a blank check company formed by investment veterans targeting the TMT sector, raised $250 million by offering 25 million units at $10. Each unit consists of one share of common stock and one right to receive one-tenth of a share upon the completion of an initial business combination.
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 plans to list on the Nasdaq under the symbol BACQU. Cohen & Company Securities acted as sole bookrunner on the deal.
