Prime Impact Acquisition I, a blank check company targeting a data-centric technology company, raised $300 million by offering 30 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50.
The company is led by Co-CEO Michael Cordano, the former President and COO of Western Digital (Nasdaq: WDC), and Co-CEO and CFO Mark Long, the former CFO, CSO, and President of Western Digital's WD Capital. Founder Jim McLean is the founder and Managing Member of venture firm Silicon Valley Data Capital. The SPAC plans to target a technology company that can capitalize on the growing use and value of data.
Prime Impact Acquisition I plans to list on the NYSE under the symbol PIAI.U. Goldman Sachs and BofA Securities acted as lead managers on the deal.
