Pearl Holdings Acquisition, a blank check company targeting global consumer-focused industries, raised $175 million by offering 17.5 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 Craig Barnett, the CEO of investment firm Meadow Lane Capital and a former Managing Director with Blackstone, Bear Stearns, and PJ Solomon. He is joined by Vice Chairman Terry Duddy, the former CEO of digital retailer Argos, and its successor independent entity Home Retail Group. The company plans to leverage management's experience and target businesses in global consumer-focused industries, including those in the lifestyle, technology, healthcare, and wellness sectors.
Pearl Holdings Acquisition plans to list on the Nasdaq under the symbol PRLHU. Morgan Stanley acted as sole bookrunner on the deal.
