Nubia Brand International, a blank check company targeting the wireless telecommunications sphere, filed on Tuesday with the SEC to raise up to $100 million in an initial public offering.
The Dallas, TX- based company plans to raise $100 million by offering 10 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, Nubia Brand International would command a market value of $126 million.
The company is led by Chairman and CEO Director Jaymes Winters, the current CEO of wireless telecommunications firm Mach FM, and CFO and Director Vlad Prantsevich, the current EVP of Operations of Mach FM. SPAC veteran Patrick Orlando, whose current roles include CEO of Yunhong International (Nasdaq: ZGYH) and Chairman of Digital World Acquisition Corp. (Nasdaq:DWAC), serves as an advisor to the board.
The company was founded in 2021 and plans to list on the Nasdaq under the symbol NUBI.U. Nubia Brand International filed confidentially on September 27, 2021. EF Hutton is the sole bookrunner on the deal.
