Inflection Point Acquisition (IPHX, IPHXU) said late Thursday it priced its initial public offering of 25 million units at $10 each, generating $250 million in gross proceeds.
The company said the units, consisting of one class A share and one-third of a redeemable warrant, with each whole warrant exercisable for one share at $11.50, will begin trading on Nasdaq under 'IPHXU' ticker on Friday.
The company has granted underwriters a 45-day option to purchase up to an additional 3.75 million units to cover over-allotments.
The company said plans to pursue a business combination with a North American or European business in disruptive growth sectors.
The offering is expected to close Monday, it added.
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