Shepherd Ave Capital Acquisition, a blank check company targeting businesses with underexploited expansion opportunities, filed on Wednesday with the SEC to raise up to $75 million in an initial public offering.
The Wilmington, DE-based company plans to raise $75 million by offering 7.5 million units at $10. Each unit consists of one share of common stock and one right to receive one-seventh of a share upon the completion of an initial business combination. At the proposed deal size, Shepherd Ave Capital Acquisition would command a market value of $96 million.
The SPAC is led by CEO and Chairman William Snyder, who currently serves as Managing Partner of Daedalus Analytics International, a provider of business intelligence and strategy advisory services. While it has not selected a target industry or geography, the company plans to focus on businesses with underexploited expansion opportunities, strong management teams, and long-term revenue visibility, among other characteristics.
Shepherd Ave Capital Acquisition was founded in 2024 and plans to list on the Nasdaq under the symbol SPHAU. SPAC Advisory Partners is the sole bookrunner on the deal.
