Swiftmerge Acquisition, a blank check company formed by IVEST Consumer Partners targeting disruptive consumer businesses, filed on Tuesday with the SEC to raise up to $250 million in an initial public offering.
The West Vancouver, Canada-based company plans to raise $250 million by offering 25 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50. At the proposed deal size, Swiftmerge Acquisition would command a market value of $313 million.
The company is led by Chairman George Jones and CEO and Director John Bremner, who are co-founders of consumer-focused private equity group IVEST Consumer Partners. The company plans to target the consumer industry but primarily "Innovative Consumer," or disruptive consumer companies utilizing technology and the internet to evolve the way that consumers interact with the market.
Swiftmerge Acquisition was founded in 2021 and plans to list on the Nasdaq under the symbol IVCPU. The company filed confidentially on February 22, 2021. BofA Securities is the sole bookrunner on the deal.
