Proem Acquisition Corp I Announces Closing of $130 Million Initial Public Offering

Core Points - Proem Acquisition Corp I successfully closed its initial public offering (IPO) of 13,000,000 units at a price of $10.00 per unit, generating total gross proceeds of $130,000,000 before expenses [1] - The units began trading on the Nasdaq Global Market under the ticker symbol "PAACU" on February 12, 2026, with each unit consisting of one ordinary share and one-half of a redeemable warrant [2] - The company is a blank check company formed to pursue a business combination with one or more businesses across various industries [3] Underwriting and Registration - Clear Street LLC served as the lead book-running manager for the IPO, and the company has granted underwriters a 45-day option to purchase up to 1,950,000 additional units to cover over-allotments [4] - A registration statement for the securities sold in the IPO was declared effective by the U.S. Securities and Exchange Commission on February 11, 2026, with the offering being made only by means of a prospectus [5] Company Overview - Proem Acquisition Corp I is incorporated as a Cayman Islands exempted company and has not yet selected a specific business combination target or engaged in substantive discussions regarding potential targets [7] - The management team includes Imran Khan as CEO and Chairman, and Greg Pearson as CFO, along with board members John Wu, David Eckstein, Amarnath Thombre, and Andrey Kazakov [7]