Melar Acquisition I, a blank check company targeting the "emerging finance" sector, filed on Friday with the SEC to raise up to $150 million in an initial public offering.
The New York, NY-based company plans to raise $150 million by offering 15 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, Melar Acquisition I would command a market value of $203 million.
The company is led by CEO and Chairman Gautam Ivatury, co-founder and Managing Partner of debt investment firm ALMA Sustainable Finance; CFO Edward Lifshitz, a former Partner at EisnerAmper; and COO and Director Eric Lifshitz, the founder of real estate advisory and investment firm Melar Capital Group. It plans to target businesses in retail finance, specialty finance, or financial technology that are positioned to benefit directly from the growth of economic stability and financial technologies in their target markets, a sector which the company refers to as "emerging finance."
Melar Acquisition I was founded in 2024 and plans to list on the Nasdaq under the symbol MACIU. The company filed confidentially on April 5, 2024. Cohen & Company Securities is the sole bookrunner on the deal.
