Berenson Acquisition Corp. I Closes US$250M IPO

Winston & Strawn LLP represented BofA Securities and Wells Fargo Securities, LLC as joint bookrunners in connection with Berenson Acquisition Corp. I (the Company) IPO of 25,000,000 units. The offering was priced at US$10.00 per unit, generating total gross proceeds of US$250M. The units are listed on the NYSE and trade under the ticker symbol "BACA.U." Each unit consists of one share of the Company's Class A common stock and one-half of one redeemable warrant, with each whole warrant exercisable to purchase one share of Class A common stock at a price of US$11.50 per share. Once the securities comprising the units begin separate trading, the Class A common stock and warrants are expected to be listed on the NYSE under the symbols "BACA" and "BACA WS," respectively. The Company is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The Company's efforts to identify a prospective target business will not be limited to a particular industry or geographic location, although it intends to focus on businesses operating in the software and technology-enabled services industry with a total enterprise value in excess of US$1B. Navigation Capital Partners, Inc. is a member of the Company's sponsor group.