Clarim Acquisition, a blank check company targeting consumer-facing e-commerce, filed on Wednesday with the SEC to raise up to $250 million in an initial public offering.
The New York, NY-based company plans to raise $250 million by offering 25 million units at $10. Each unit will consist of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, Clarim Acquisition will command a market value of $313 million.
The company is led by CEO and Chairman James McCann, who previously founded 1-800-Flowers.com (Nasdaq: FLWS) in 1976 and served as CEO until 2016. He is joined by CFO, President, and Director Jaymin Patel, who most recently served as CEO and Director of Brightstar Corporation from 2015 to 2018. Clarim Acquisition intends to leverage its management team's experience to target a business within the consumer-facing e-commerce sector.
Clarim Acquisition was founded in 2020 and plans to list on the Nasdaq under the symbol CLRMU. It filed confidentially on November 27, 2020. Jefferies and BTIG are the joint bookrunners on the deal.
