Industrial Tech Acquisitions, a blank check company targeting a technology business operating in an industrial or energy area, raised $75 million by offering 7.5 million units at $10. Each unit consists of one share of common stock and one warrant, exercisable at $11.50.
The company is led by CEO and Chairman Scott Crist, the CEO of intelligent video monitoring firm Osperity and a Partner at Texas Ventures, and CFO Greg Smith, who was the founder, CEO, and CFO of ERF Wireless and the former CFO of Infrastructure Networks. The company plans to focus its search on industrial and energy technology companies with an enterprise value of approximately $250 million to $500 million.
Industrial Tech Acquisitions plans to list on the Nasdaq under the symbol ITACU. Maxim Group LLC acted as a lead manager on the deal.
