Perimeter Acquisition Corp. I Announces Pricing of Upsized $210,000,000 Initial Public Offering
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.
Perimeter Acquisition Corp. I (PMTRU) ha annunciato il prezzo della sua IPO aumentata a 21.000.000 di unità a 10,00 $ per unità, per un totale di 210 milioni di dollari. Ogni unità comprende un'azione ordinaria e metà di un warrant rimborsabile. Le unità inizieranno a essere negoziate sul Nasdaq Global Market con il simbolo "PMTRU" il 13 maggio 2025.
Quando inizierà la negoziazione separata, le azioni ordinarie e i warrant saranno quotati rispettivamente con i simboli "PMTR" e "PMTRW". Citigroup Global Markets è l'unico gestore del libro ordini e ha un'opzione di 45 giorni per acquistare fino a 3.150.000 unità aggiuntive per eventuali sovrassegnazioni. La chiusura dell'offerta è prevista per il 14 maggio 2025.
Perimeter Acquisition Corp. I (PMTRU) ha anunciado el precio de su oferta pública inicial ampliada de 21.000.000 unidades a 10,00 $ por unidad, totalizando 210 millones de dólares. Cada unidad incluye una acción ordinaria y la mitad de un warrant redimible. Las unidades comenzarán a cotizar en el Nasdaq Global Market bajo el símbolo "PMTRU" el 13 de mayo de 2025.
Una vez que comience la negociación separada, las acciones ordinarias y los warrants cotizarán bajo los símbolos "PMTR" y "PMTRW", respectivamente. Citigroup Global Markets es el único administrador principal y cuenta con una opción de 45 días para comprar hasta 3.150.000 unidades adicionales para sobresuscripciones. Se espera que la oferta cierre el 14 de mayo de 2025.
Perimeter Acquisition Corp. I (PMTRU)는 확대된 IPO에서 21,000,000 단위를 단위당 10.00달러에 가격을 책정했다고 발표했으며, 총 2억 1천만 달러에 달합니다. 각 단위는 보통주 1주와 상환 가능한 워런트 0.5주로 구성됩니다. 단위는 2025년 5월 13일부터 나스닥 글로벌 마켓에서 "PMTRU"로 거래를 시작합니다.
별도 거래가 시작되면 보통주와 워런트는 각각 "PMTR"과 "PMTRW"로 거래됩니다. 시티그룹 글로벌 마켓은 단독 주관사이며, 45일간 최대 3,150,000 단위 추가 구매 옵션을 보유하고 있습니다. 이번 공모는 2025년 5월 14일에 마감될 예정입니다.
Perimeter Acquisition Corp. I (PMTRU) a annoncé le prix de son introduction en bourse augmentée de 21 000 000 d’unités à 10,00 $ par unité, pour un total de 210 millions de dollars. Chaque unité comprend une action ordinaire et un demi-warrant remboursable. Les unités commenceront à être négociées sur le Nasdaq Global Market sous le symbole "PMTRU" à partir du 13 mai 2025.
Une fois que la négociation séparée commencera, les actions ordinaires et les warrants seront négociés sous les symboles "PMTR" et "PMTRW" respectivement. Citigroup Global Markets est le gestionnaire unique du livre d’ordres et dispose d’une option de 45 jours pour acheter jusqu’à 3 150 000 unités supplémentaires en cas de surallocation. La clôture de l’offre est prévue pour le 14 mai 2025.
Perimeter Acquisition Corp. I (PMTRU) hat die Preisfestsetzung für sein aufgestocktes IPO von 21.000.000 Einheiten zu je 10,00 $ bekannt gegeben, was insgesamt 210 Millionen Dollar entspricht. Jede Einheit besteht aus einer Stammaktie und einer halben einlösbaren Aktieoption. Die Einheiten werden ab dem 13. Mai 2025 unter dem Symbol "PMTRU" am Nasdaq Global Market gehandelt.
Nach Beginn des separaten Handels werden die Stammaktien und Optionen unter den Symbolen "PMTR" bzw. "PMTRW" gehandelt. Citigroup Global Markets ist der alleinige Bookrunner und verfügt über eine 45-tägige Option zum Kauf von bis zu 3.150.000 zusätzlichen Einheiten zur Deckung von Überzuteilungen. Der Abschluss des Angebots wird für den 14. Mai 2025 erwartet.
- Upsized IPO raising substantial capital of $210 million
- Listing on major exchange (Nasdaq Global Market)
- Additional potential capital of $31.5 million through over-allotment option
- Backing by major financial institution (Citigroup) as sole book-runner
- Blank check company with no existing business operations
- Potential dilution from warrant exercises
- Investment risks typical of SPACs including uncertainty of acquisition targets
Insights
Perimeter Acquisition Corp. I raises $210M in upsized SPAC IPO, demonstrating continued investor appetite for blank-check companies.
Perimeter Acquisition Corp. I has successfully priced its upsized initial public offering at
Each unit consists of one ordinary share and half a warrant, following the standard SPAC structure. Citigroup is serving as the sole book-runner, and they've secured an over-allotment option to purchase up to 3.15 million additional units, which could potentially increase the total raise to
The SPAC market has experienced significant volatility in recent years, with a boom in 2020-2021 followed by a cooling period. This successful upsized offering suggests there remains selective institutional appetite for blank-check companies with the right sponsor teams and target strategies, despite overall market contraction.
No details were provided regarding Perimeter's acquisition focus or timeline, which is typical at this stage. SPACs generally have 24 months to complete a business combination before returning capital to investors. Trading will commence on Nasdaq under ticker PMTRU before eventually splitting into shares (PMTR) and warrants (PMTRW).
This successful capital raise provides Perimeter significant dry powder to pursue acquisitions in what remains a challenging market for private companies seeking public exits, potentially offering attractive opportunities for businesses that might otherwise struggle with traditional IPO routes.
NEW YORK, May 12, 2025 (GLOBE NEWSWIRE) -- Perimeter Acquisition Corp. I (Nasdaq: PMTRU) (the “Company”), a special purpose acquisition company, today announced the pricing of its upsized initial public offering of 21,000,000 units at
The offering is expected to close on May 14, 2025, subject to customary closing conditions.
Citigroup Global Markets Inc. is serving as the sole book-running manager for the offering. The underwriter has been granted a 45-day option to purchase up to an additional 3,150,000 units offered by the Company to cover over-allotments, if any.
A registration statement on Form S-1 relating to these securities has been filed with the Securities and Exchange Commission (“SEC”), and was declared effective on May 12, 2025. The offering is being made only by means of a prospectus. Copies of the prospectus may be obtained, when available, from Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone: 800-831-9146.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Perimeter Acquisition Corp. I
Perimeter Acquisition Corp. I is a public acquisition vehicle and intends to target companies in the defense and national security sectors where its management has extensive investment and operational experience. In addition, the Company expects to evaluate opportunities relating to technology, including opportunities at the convergence of defense, technology, and national security. The Company believes that its management team is positioned to drive ongoing value creation post-business combination and is well suited to identify opportunities that have the potential to generate attractive risk-adjusted returns for its shareholders.
Forward-Looking Statements
This press release contains statements that constitute “forward-looking statements,” including with respect to the proposed initial public offering. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and preliminary prospectus for the Company’s offering filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Investor and Media Contact
Investor Contact:
Josef Valdman
jvaldman@perimeteracq.com
(512) 200-2533
Media Contact:
Bernardo Soriano
Gregory FCA for Perimeter Acquisition Corp. I
bernardo@gregoryfca.com
(914) 656-3880
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