Parabellum Acquisition, a blank check company targeting the internet of things transformation, filed on Friday with the SEC to raise up to $125 million in an initial public offering.
The Dallas, TX-based company plans to raise $125 million by offering 12.5 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, Parabellum Acquisition will command a market value of $156 million.
The company is led by CEO and Chairman Narbeh Derhacobian, who previously served as President and CEO of Adesto Technologies (Nasdaq: IOTS) from 2007 to 2020. He is joined by CFO and Director Ron Shelton, who was CFO of Adesto from 2011 to 2020. Parabellum Acquisition intends to focus on companies with an enterprise value of $300 million to $1 billion that have unique propitiatory technologies and business models and are actively engaged in the Internet of Things (“IoT”) transformation in a variety of segments such as consumer, industrial, automotive, medical, and others.
Parabellum Acquisition was founded in 2021 and plans to list on the NYSE under the symbol PBRM.U. B. Riley FBR is the sole bookrunner on the deal.
