Parabellum Acquisition, a blank check company targeting the internet of things transformation, raised $125 million by offering 12.5 million units at $10.
Each unit consists of one share of common stock and three-quarters of a warrant exercisable at $11.50.
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.
The Dallas, TX-based company plans to list on the NYSE under the symbol PRBM.U. B. Riley Securities acted as sole bookrunner on the deal.
