PROOF Acquisition Corp I is a blank check company incorporated as a Delaware corporation for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses, which we refer to throughout our prospectus as our initial business combination. As of the date of our initial public offering (“IPO”), our efforts have been limited to organizational activities as well as activities related to the IPO. We have not selected any business combination target and as of the date of our IPO, we have not, nor has anyone on our behalf initiated any substantive discussions, directly or indirectly, with any business combination target. We have generated no operating revenues to date and we do not expect that we will generate operating revenues until we consummate our initial business combination.
Our objective is to identify and merge with a business that has the potential to achieve sustainable growth and which addresses a large and growing market. We believe there are attractive trends in several industries in which we have expertise, including the enterprise software, health care, financial technology, and consumer sectors, although we may pursue an acquisition in any business industry or sector. Our business strategy is to identify and complete our initial business combination with a company that complements the experience of our management team and can benefit from its sourcing, investing, governance, and public market and value-enhancement expertise.