Pathfinder Acquisition, a blank check company formed by HGGC and Industry Ventures targeting technology, raised $300 million by offering 30 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-fifth of a warrant, exercisable at $11.50.
The company is led by Chairman Richard Lawson, co-founder and CEO of middle-market private equity firm HGGC; CEO and Director David Chung, an Executive Director of HGGC; CIO and Director Lindsay Sharma, a Managing Director of venture firm Industry Ventures; and CFO Lance Taylor, a Partner and CFO of HGGC. HGGC co-founder and President Steven Young and Industry Ventures founder and CEO Hans Swildens will serve as Directors. Pathfinder Acquisition plans to target growth-oriented technology or technology-enabled businesses.
Pathfinder Acquisition plans to list on the Nasdaq under the symbol PFDRU. Deutsche Bank, RBC Capital Markets and Stifel acted as lead managers on the deal.
