Crucible Acquisition, a blank check company formed by Foundry Group and a former Splunk executive targeting tech, raised $225 million by offering 22.5 million units at $10. The company offered 2.5 million more units than anticipated. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50.
The company is led by Chairman Brad Feld, who is a Founding Partner of Foundry Group, and CEO and Director James Lejeal, the former Area Vice President and General Manager for the Incident Management unit of Splunk (SPLK). The company plans to target businesses in the software technology industry, prioritizing cloud-based recurring revenue business models.
Crucible Acquisition plans to list on the NYSE under the symbol CRU.U. Credit Suisse acted as a lead manager on the deal.
