Thrive Acquisition, a blank check company targeting the global health and wellness industry, lowered the proposed deal size for its upcoming IPO on Wednesday.
The Newton, MA-based company now plans to raise $150 million by offering 15 million units at $10. The company had previously filed to offer 20 million units at the same price. Each unit still consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the revised deal size, Thrive Acquisition will raise -25% less in proceeds than previously anticipated.
The company is led by CEO and Director Charles Jobson, the founder and former Portfolio Manager of global equity hedge fund Delta Partners. The company plans to target the global health and wellness industry, focusing on branded food, beverage, and consumer products in the better-for-you or sustainability-focused market sectors, as well as companies supporting the consumer shift towards health and wellness through innovative platforms or technologies.
Thrive Acquisition was founded in 2021 and plans to list on the Nasdaq under the symbol THAC.U. BTIG is the sole bookrunner on the deal.
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