Pegasus Digital Mobility Acquisition, a blank check company targeting the next-generation transportation sector, filed on Tuesday with the SEC to raise up to $200 million in an initial public offering.
The Cayman Islands-based company plans to raise $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, Pegasus Digital Mobility Acquisition would command a market value of $250 million.
The company is led by CEO and Chairman Ralf Speth, who most recently served as the CEO of Jaguar Land Rover, and previously held roles at Linde Group, Ford Motor Company, and BMW Group. The company plans to target the next-generation transportation sector, including both battery electric as well as hydrogen fuel cell electric vehicles, and defining transportation as both the mobility of people and the transportation of goods. It plans to focus on opportunities in the European market.
Pegasus Digital Mobility Acquisition was founded in 2021 and plans to list on the NYSE under the symbol PGSS.U. Barclays is the sole bookrunner on the deal.
