Soulpower Acquisition, a blank check company targeting businesses in insurance services and retirement savings, raised $220 million by offering 22 million units at $10. The company offered 2 million more units than anticipated. 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.
Soulpower Acquisition is led by CEO and Chairman Justin Lafazan, the founder and former CEO of tech firm Nex Gen HQ. The SPAC plans to target businesses operating within the category of insurance services, retirement savings, and other related financial services.
Soulpower Acquisition plans to list on the NYSE under the symbol SOULU. Cantor Fitzgerald acted as sole bookrunner on the deal.
