Target Global Acquisition I, a blank check company formed by Target Global focusing on European and Israeli tech companies, raised $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50. The company may raise an additional $50 million at the closing of an acquisition pursuant to two $25 million forward purchase agreements.
The company is led by CEO and Director Shmuel Chafets, the founder and Executive Chairman of Target Global, and CFO and Director Heiko Dimmerling, co-founder and CEO of Alina and CFO of Target Global. Target Global Acquisition I is focused on identifying European and Israeli technology companies that would benefit from management's expertise and create long-term value.
Target Global Acquisition I plans to list on the Nasdaq under the symbol TGAAU. UBS Investment Bank and BofA Securities acted as joint bookrunners on the deal.
