Namaste World Acquisition, a blank check company targeting the TMT and tech-enabled consumer sectors, filed on Tuesday with the SEC to raise up to $200 million in an initial public offering.
The Wilmington, DE-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. Anchor investors intend to purchase $198 million worth of units in the offering (99% of the deal). At the proposed deal size, Namaste World Acquisition would command a market value of $258 million.
The company is led by CEO and Chairman Suresh Guduru, whose current roles include serving as CEO of food and hospitality business Organic Ingredients, and CEO and CTO of software and technology services company Softengg. The company plans to target the TMT and technology-empowered consumer sectors, with a particular emphasis on technology-driven, disruptive, and high growth businesses focused on rapidly evolving consumer behavior, new platforms and methodologies influencing consumption, and differentiating intellectual property, among other characteristics.
Namaste World Acquisition was founded in 2021 and plans to list on the Nasdaq under the symbol NWACU. The company filed confidentially on August 3, 2021. EF Hutton is the sole bookrunner on the deal.
