Parabellum Acquisition Corp. Announces Closing of $125,000,000 Initial Public Offering

Rhea-AI Summary

DALLAS, Sept. 30, 2021 – Parabellum Acquisition Corp. (NYSE: PRBM.U) announced the successful closing of its IPO, offering 12,500,000 units at $10.00 each. Each unit includes one share of common stock and three-quarters of a redeemable warrant, with each whole warrant allowing the purchase of one common share at $11.50.

The units began trading on the NYSE under 'PRBM.U' on Sept. 28, 2021. Parabellum, a blank-check company, aims to merge with businesses valued between $300 million and $1 billion, focusing on proprietary technologies within the IoT sector.

Positive

• Successful IPO raising $125 million.
• Focus on businesses in the high-growth IoT sector.

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• None.

DALLAS, Sept. 30, 2021 (GLOBE NEWSWIRE) -- Parabellum Acquisition Corp. (NYSE: PRBM.U) (the “Company” or “Parabellum”) today announced the closing of its initial public offering of 12,500,000 units at a price of $10.00 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.

The units began trading on the New York Stock Exchange (NYSE) under the ticker symbol “PRBM.U” on September 28, 2021. Once the securities comprising the units begin separate trading, the shares and warrants are expected to be traded on the NYSE under the symbols “PRBM” and “PRBM.WS,” respectively.

Parabellum is a blank-check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The Company intends to focus on businesses with an enterprise value of $300 million to $1 billion that have unique proprietary technologies and business models and are actively engaged in the Internet of Things (“IoT”) transformation in a variety of segments such as consumer, industrial, automotive, medical and others.

B. Riley Securities is the sole book running manager for the offering. The manager has a 45-day option to purchase up to an additional 1,875,000 units solely to cover over-allotments, if any.

A final prospectus relating to and describing the final terms of the offering has been filed with the SEC. The offering was made only by means of a prospectus, copies of which may be obtained by contacting B. Riley Securities at 1300 North 17th Street, Suite 1300, Arlington, VA 22209, or by calling (703) 312‐9580  or emailing a request to prospectuses@brileyfin.com. Copies of the registration statements can also be accessed through the SEC’s website at www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Note Concerning Forward Looking Statements

This news release contains statements that constitute “forward-looking statements,” including with respect to the initial public offering and the anticipated use of the net proceeds. 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.

For more information on Parabellum, visit www.parabellumac.com.

Media Contact:
Jen Bernier-Santarini
+1 650-336-4222
jen.bernier@jbstechpr.com

 

FAQ

What was the closing date of Parabellum Acquisition Corp's IPO?

The closing date of Parabellum Acquisition Corp's IPO was September 30, 2021.

How much capital was raised in the Parabellum IPO?

Parabellum raised $125 million through its IPO.

What is the purpose of Parabellum Acquisition Corp?

Parabellum is designed to effect a merger or similar business combination with companies in the IoT space.

Under which ticker symbol can Parabellum units be traded?

Parabellum units can be traded under the ticker symbol 'PRBM.U'.

What is the price for purchasing shares through the warrants?

Warrants allow the purchase of one share of common stock at a price of $11.50.