C5 Acquisition, a blank check company formed by C5 Capital targeting space, cybersecurity, and energy transition, raised $250 million by offering 25 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 Director Rob Meyerson, an operating partner at C5 Capital and former President of Blue Origin, and Chairman Steve Demetriou, the Chair and CEO of Jacobs Engineering Group (NYSE: J). CFO David Glickman is a Partner at Resilience Capital.
The SPAC states that it will focus on businesses at the leading edge of national security innovation in three key sectors: space, cybersecurity and energy transition. Sponsor C5 Capital will provide support to its deal-flow and acquisition processes, including in technical and customer due diligence, allowing the SPAC to leverage its network of national security practitioners and investment professionals.
The Washington, DC-based SPAC plans to list on the NYSE under the symbol CXAC.U. Cantor Fitzgerald and Moelis & Company acted as joint bookrunners on the deal.
