Parsec Capital Acquisitions, a blank check company targeting space transport and technology, filed on Thursday with the SEC to raise up to $50 million in an initial public offering.
The Lewisville, TX-based company plans to raise $50 million by offering 50 million units at $10 per unit. Each unit contains one share of common stock and one whole warrant, exercisable at $11.50. At the proposed deal size, the company would command a market value of $63 million.
Parsec Capital Acquisitions is led by CEO and Chair Patricia Trompeter, former CFO of GE Capital, and CFO Paul Haber, Managing Director of Toronto-based merchant bank Summit Bancorp. The company aims to leverage management's experience to target businesses with enterprise values between $100 million and $300 million in the space economy, transport, and technology industries.
The company was founded in 2021 and plans to list on the Nasdaq under the symbol PCXU. EF Hutton is the sole bookrunner on the deal.
