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Fifth Era Acquisition Corp I, a blank check company with a current market capitalization of $273 million, has successfully completed its initial public offering (IPO), raising a total of $236 million, according to a recent SEC filing. The IPO, which closed on Monday, saw the company offering 23 million units, including an over-allotment option fully exercised by the underwriters for an additional 3 million units.
Each unit, priced at $10, consists of one Class A ordinary share and one right to receive one-tenth of a share upon the completion of the company’s initial business combination. The units began trading on The Nasdaq Stock Market LLC under the symbols FERAU, FERA, and FERAR for the units, Class A ordinary shares, and rights, respectively. According to InvestingPro data, the stock currently trades at $10.02, near its 52-week high of $10.03, with notably low price volatility.
Concurrently with the IPO, Fifth Era Acquisition Corp I conducted a private sale of 600,000 units, generating $6 million in additional proceeds. The private placement units, divided between the company’s sponsor, Fifth Era Acquisition I Sponsor LLC, and Cantor Fitzgerald & Co., were sold at the same $10 per unit price as the IPO.
The net proceeds from both the IPO and the private sale, totaling $230 million, have been placed into a trust account maintained by Continental Stock Transfer & Trust Company. These funds are earmarked for the company’s future business endeavors, with an audited balance sheet as of March 3, 2025, reflecting the receipt of the proceeds.
Fifth Era Acquisition Corp I, incorporated in the Cayman Islands, is classified under the "blank checks" industry sector. The company’s business address is in Tiburon, California, and it has a fiscal year-end on December 31. InvestingPro analysis shows the company maintains a GOOD financial health score despite not being profitable in the last twelve months (EPS: -$0.02). Unlock additional insights and 4 more exclusive ProTips with an InvestingPro subscription.
The completion of the IPO and the private placement mark significant steps for Fifth Era Acquisition Corp I as it seeks to pursue a business combination in the real estate and construction sector. The company has not yet announced any specific target for its business combination, but the funds secured through these transactions provide it with the financial flexibility to support its strategic plans. The information reported is based on the company’s SEC filing.
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