Investcorp Europe Acquisition I, a blank check company formed by Investcorp targeting businesses in Europe, raised $300 million by offering 30 million units at $10. The company offered 5 million more units than anticipated. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50.
The company is led by Chairman Hazem Ben-Gacem, the Co-CEO of Investcorp and trading firm CP Holdings; Vice Chairman Peter McKellar, the Deputy Chairman of AssetCo; and CEO Ruby McGregor-Smith, the President of the British Chambers of Commerce and former CEO of the Mitie Group. The company plans to target opportunities in Western Europe, including the UK, or Northern Europe and, opportunistically, in Turkey, focusing on the business services, consumer and lifestyle, niche manufacturing, and technology sectors.
Investcorp Europe Acquisition I plans to list on the Nasdaq under the symbol IVCBU. Citi and Credit Suisse acted as joint bookrunners on the deal.
