Pivotal Acquisition, a blank check company formed to acquire a logistics technology or cyber security business, filed for its IPO on Wednesday.
The New York, NY-based company plans to raise $200 million by offering 20 million units at a price of $10. Each unit will consist of one share of common stock and one warrant to purchase one share of common stock at $11.50. At $10, Pivotal Acquisition would command a market value of $250 million.
Pivotal Acquisition was founded in 2018 and plans to list on the NYSE under the symbol PVT.U. Cantor Fitzgerald is the sole bookrunner on the deal.
