ION Acquisition Corp 1 made its debut on the New York Stock Exchange on Friday after raising $225 million in an initial public offering (IPO), the only current blank-check acquisition company focusing on the Middle East region.
With a specific geography and industry focus, ION Chief Executive Gilad Shany said he wants to target Israeli tech companies at over $1 billion valuation and bridge the gap between local entrepreneurs and the US capital market.
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"The IPO process has become cumbersome, expensive and complicated for some of these companies when they're still relatively new," Shany said in an interview.
