NEW YORK, NY, Nov. 04, 2024 (GLOBE NEWSWIRE) -- Bleichroeder Acquisition Corp. I (the "Company") announced today the closing of its initial public offering of 25,000,000 units. The offering was priced at $10.00 per unit, resulting in gross proceeds of $250,000,000.
The Company's units began trading on November 1, 2024 on the Nasdaq Global Market ("Nasdaq") under the ticker symbol "BACQU." Each unit consists of one Class A ordinary share of the Company and one right to receive one-tenth (1/10) of one Class A ordinary share upon the consummation of the Company's initial business combination. Once the securities constituting the units begin separate trading, the Class A ordinary shares and rights are expected to be listed on Nasdaq under the symbols "BACQ" and "BACQR," respectively.
Of the proceeds received from the consummation of the initial public offering and a simultaneous private placement of units, $250,000,000 (or $10.00 per unit sold in the offering) was placed in a trust account of the Company.
The Company is a blank check company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company may pursue an acquisition opportunity in any business or industry. The Company's primary focus, however, will be on businesses in the technology, media and telecommunications ("TMT") sector as well as sectors that are being transformed via technology adoption. The Company's management team is led by its Co-Founders, Michel Combes and Andrew Gundlach, and Robert Folino, its Chief Financial Officer. The Board also includes Nazim Cetin, Joseph Samuels, Kathy Savitt, Antoine Theysset, and Pierre Weinstein.
Cohen & Company Capital Markets acted as lead book-running manager for the offering. Seaport Global Securities acted as co-book runner.
The offering was made by means of a prospectus. Copies of the prospectus may be obtained from Cohen & Company Capital Markets, 3 Columbus Circle, 24th Floor, New York, NY 10019, Attention: Prospectus Department, or by email at: capitalmarkets@cohencm.com.
A registration statement relating to the securities was declared effective by the U.S. Securities and Exchange Commission (the "SEC") on October 31, 2024. 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 offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Forward-Looking Statements
This press release contains statements that constitute "forward-looking statements," including with respect to the proposed initial public offering and the anticipated use of the net proceeds thereof. No assurance can be given 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 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.
Company Contact:
Bleichroeder Acquisition Corp. I
1345 Avenue of the Americas, 47th Floor
New York, NY 10105
Attn: Robert Folino
(o) 212.984.3835
robert.folino@bspac1.com
