Emerging Markets Horizon, a blank check company targeting high growth tech and consumer-exposed businesses, filed on Tuesday with the SEC to raise up to $250 million.
The Nicosia, Cyprus-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, Emerging Markets Horizon would command a market value of $313 million.
The company is led by CEO and Director Riccardo Orcel, the Head of Global Banking at Russian investment bank VTB Capital, and CFO and Director Bernard Abdelmalak, a Director within VTB Capital's finance function. The company plans to target high growth technology and consumer-exposed businesses in Central and Eastern Europe, Russia, or the Commonwealth of Independent States, focusing on those with enterprise values of at least $700 million.
Emerging Markets Horizon was founded in 2021 and plans to list on the Nasdaq under the symbol HORI.U. The company filed confidentially on June 22, 2021. Citi and VTB Capital are the joint bookrunners on the deal.
