With CEO in Dallas, Defense-Focused Perimeter Acquisition Corp. Closes $241M IPO

Perimeter Acquisition Corp., a special purpose acquisition company, has closed on its upsized initial public offering of 24,150,000 units resulting in gross proceeds of $241.15 million.

The units began trading on the Nasdaq Global Market under the ticker symbol “PMTRU” on May 13.

Perimeter Acquisition Corp. I is managed by its Dallas-based CEO, Joe Valdman, managing partner at Slate Hill Partners; Jordan Blashek, co-founder and managing partner at America’s Frontier Fund; and Todd Lemkin, former CIO at Canyon Capital Advisors.

Valdman is a well-established investor within the North Texas private capital and investment community. The founder of Slate Hill Partners and a partner at NEOS Investments, he’s expanding his focus via Perimeter in order to back emerging defense innovators through this new public vehicle.

Investing in defense, national security, and re-industrialization

Perimeter said it sees “a generational opportunity” to bridge high-growth innovators with public capital across the defense sector including areas such as advanced military tech, space and aerospace innovation, next-gen technologies like semiconductors and quantum systems, and mission-critical technology across government services.

“We’re proud to announce the successful completion of our initial public offering,” Jordan Blashek, chairman of Perimeter Acquisition Corp I, said in a statement. “This marks an important milestone in our mission to partner with exceptional companies at the forefront of America’s defense, national security, and re-industrialization. We appreciate the strong support from our investors and remain focused on our commitment to disciplined execution and long-term value creation.”

Concurrent with the closing of the initial public offering, Perimeter said it closed on a private placement of 638,000 units at a price of $10 per unit, resulting in gross proceeds of $6.38 million.

Citigroup Global Markets Inc. served as the sole book-running manager for the offering.

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