Twelve Seas Investment Company, a blank check company formed to acquire a business located in the Pan-Eurasian region, raised the proposed deal size for its upcoming IPO on Thursday.
The London, United Kingdom-based company now plans to raise $150 million by offering 15 million units at a price of $10. The company had previously filed to offer 10 million units at the same price. The company will command a market value of $195 million and is now expected to raise 50% more in proceeds than previously anticipated. Each unit consists of one ordinary share and one warrant exercisable at $11.50.
Twelve Seas Investment Company was founded in 2017 and plans to list on the Nasdaq under the symbol TWLVU. EarlyBirdCapital is the sole bookrunner on the deal.
