New Vista Acquisition, a blank check company led by ex-Boeing CEO Dennis Muilenburg targeting emerging tech and aerospace and defense, raised $240 million by offering 24 million units at $10. The company offered 4 million more units than anticipated. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50.
The company is led by CEO and Chairman Dennis Muilenburg, the former CEO of Boeing (NYSE: BA); CFO, Co-President, and Director Travis Nelson, who currently serves as Managing Member of Eclipse Investors and previously was a Managing Director at TowerBrook Capital Partners; and COO, Co-President, and Director Kirsten Bartok Touw, the founder and Managing Partner of AirFinance. The company plans to target businesses engaged with emerging and transformational technologies, focusing particularly on those operating within the space, defense, and communications and advanced air mobility and logistics industries.
New Vista Acquisition plans to list on the Nasdaq under the symbol NVSAU. Citi and Jefferies acted as lead managers on the deal.
The article SPAC: New Vista Acquisition, led by ex-Boeing CEO Dennis Muilenburg, prices upsized $240 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
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