DLA Piper advises Parabellum Acquisition Corp. in US$125 million IPO

Rhea-AI Summary

Parabellum Acquisition Corp. (NYSE: PRBM.U) successfully completed its initial public offering, raising $125 million by offering 12,500,000 units at $10 per unit. Each unit includes one share of common stock and three-quarters of a redeemable warrant, with each whole warrant allowing purchase of a share at $11.50. The SPAC targets companies with an enterprise value between $300 million to $1 billion involved in the Internet of Things (IoT) across various sectors.

Positive

• Successfully raised $125 million in IPO.
• Targets large market opportunities in IoT sectors.

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• None.

NEW YORK, Sept. 30, 2021 /PRNewswire/ -- DLA Piper represented Parabellum Acquisition Corp. (NYSE: PRBM.U) in its initial public offering of 12,500,000 units at a price of $10 per unit. Each unit consists of one share of common stock and three quarters of one redeemable warrant of the company. Each whole warrant entitles the holder to purchase one share of common stock of the company at a price of $11.50 per share. 

Parabellum is a special purpose acquisition company (SPAC) that will focus on businesses with an enterprise value of US$300 million to US$1 billion are actively engaged in the Internet of Things (IoT) transformation in a variety of sectors, including the consumer, industrial, automotive and medical industries.

"We were pleased to advise Parabellum in its IPO, bringing together extensive SPAC capital markets experience to facilitate a successful transaction for our client," said Jeffrey Selman, the DLA Piper partner who led the firm's deal team.

"DLA's team provided excellent advice and managed our process with outstanding professionalism," said Narbeh Derhacobian, CEO of Parabellum.

In addition to Selman (San Francisco), the DLA Piper team representing Parabellum included partner Curtis Mo (Silicon Valley), of counsel Mario Rego (Houston) and associate Elena Nrtina (Silicon Valley).

DLA Piper's global capital markets team represents issuers and underwriters in registered and unregistered equity, equity-linked and debt capital markets transactions, including initial public offerings, follow-on equity offerings, equity-linked securities offerings, and offerings of investments grade and high-yield debt securities.

DLA Piper's global Technology sector lawyers work across practice areas and offices to support technology clients – from startups to fast-growing and mid-market businesses to mature global enterprises – doing business around the world.

About DLA Piper
DLA Piper is a global law firm with lawyers located in more than 40 countries throughout the Americas, Europe, the Middle East, Africa and Asia Pacific, positioning us to help clients with their legal needs around the world. In certain jurisdictions, this information may be considered attorney advertising. dlapiper.com

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SOURCE DLA Piper

FAQ

What is Parabellum Acquisition Corp's IPO date?

Parabellum Acquisition Corp. completed its IPO on September 30, 2021.

What is the stock symbol for Parabellum Acquisition Corp?

The stock symbol for Parabellum Acquisition Corp is PRBM.U.

How much did Parabellum Acquisition Corp raise in its IPO?

Parabellum Acquisition Corp raised $125 million in its IPO.

What is the price per unit in Parabellum Acquisition Corp's IPO?

The price per unit in Parabellum Acquisition Corp's IPO was $10.

What sectors does Parabellum Acquisition Corp focus on?

Parabellum Acquisition Corp focuses on companies involved in the Internet of Things (IoT), including consumer, industrial, automotive, and medical sectors.