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Perimeter Acquisition Corp has successfully completed its upsized initial public offering (IPO), raising $241.5 million through the sale of 24,150,000 units at $10.00 per unit. The units, trading under symbol PMTRU on Nasdaq, include one ordinary share and one-half redeemable warrant, with each whole warrant allowing purchase of one share at $11.50.
Additionally, the company closed a concurrent private placement of 638,000 units at $10.00 per unit, generating $6.38 million. The SPAC, managed by Jordan Blashek, Joe Valdman, and Todd Lemkin, aims to partner with companies in America's defense, national security, and re-industrialization sectors. Citigroup Global Markets served as the sole book-running manager, and $241.5 million of the proceeds has been placed in trust.
Perimeter Acquisition Corp. I (PMTRU) has announced the pricing of its upsized IPO of 21,000,000 units at $10.00 per unit, totaling $210 million. Each unit comprises one ordinary share and one-half of one redeemable warrant. The units will begin trading on the Nasdaq Global Market under "PMTRU" on May 13, 2025.
Once separate trading begins, the ordinary shares and warrants will trade under "PMTR" and "PMTRW" respectively. Citigroup Global Markets is the sole book-running manager and has a 45-day option to purchase up to 3,150,000 additional units for over-allotments. The offering is expected to close on May 14, 2025.
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