Tristar Acquisition I, a blank check company backed by Navigation Capital targeting a telecom and tech business, raised $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.
The company is led by CEO and Chairman William Mounger II, the CEO of telecom and technology search firm Tristar Technologies. Navigation Capital co-founder and Managing Partner Robert Willis will serve as a Director. COO Cathy Martine-Dolecki is the former President of National Business at AT&T.
The company plans to target the telecommunications and technology sectors, focusing on businesses with a strong and experienced management team and a defensible market position, among other characteristics.
The Atlanta, GA-based company plans to list on the NYSE under the symbol TRIS.U. Wells Fargo Securities acted as sole bookrunner on the deal.
