Catalyst Partners Acquisition, a blank check company formed by General Catalyst targeting disruptive enterprise software, raised $300 million by offering 30 million units at $10. Each unit consists of one share of common stock and one-fifth of a warrant, exercisable at $11.50.
The company is led by CEO and Chairman James Cash, who currently serves as an advisor to General Catalyst Partners and Grain Management, and President and Vice Chairman Paul Sagan, a senior advisor and Executive in Residence at General Catalyst. The company plans to leverage its management team's experience and target disruptive enterprise software businesses with demonstrated strong momentum, platform characteristics, and multiple avenues of growth.
Catalyst Partners Acquisition plans to list on the Nasdaq under the symbol CPARU. Goldman Sachs acted as a lead manager on the deal.
