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.
Don’t miss what’s next. Subscribe to Dallas Innovates.
Track Dallas-Fort Worth’s business and innovation landscape with our curated news in your inbox Tuesday-Thursday.
R E A D N E X T
-
More than 300,000 defense suppliers—from major contractors to small businesses—must meet new CMMC security standards or risk losing contracts; SMU's conference tackles compliance requirements and implementation strategies Feb. 19-20.
-
Aiming to safeguard national security using advanced AI, cybersecurity experts at the University of North Texas have received $3 million from the Department of Defense to help the department overhaul its hiring processes. The UNT researchers, led by computer science and engineering faculty Ram Dantu and Cihan Tunc, received $2.1 million in funding from the Cyber Service Academy under the DOD’s chief information officer. The rest of the funds came from the National Security Agency. “This is about ensuring we have the right people in the right positions to protect our national security. There are so many foreign actors working…
-
Qualthera, a new company founded by entrepreneur Donald Prentiss, has made its first acquisition—Central Drug in Victoria, Texas—and set its sights on Dallas for its second. Prentiss sees an opportunity in the shifting pharmacy landscape, where changes, including downsizing by large chains, have created service gaps that independent pharmacies could fill.
-
Founded by industry veterans Ben and Luke Doramus, D2 Asset Management said it aims to generate "compelling returns" for its partners across real assets, specialty finance, and structured credit.
-
"It's an incredible honor to partner with Wilks Development and steward such a beloved Fort Worth landmark, being part of its next chapter," said Chef Jenna Kinard, the former executive chef of Max's Wine Dive, Hotel Drover's 97 West, and Jellico's at the Westin Southlake.
