Charlton Aria Acquisition, a blank check company targeting companies with expansion opportunities, filed on Tuesday 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 a proposed price of $10. Each unit contains one share of common stock, and one right to receive one-eighth of a share of common stock. At the proposed deal size, Charlton Aria Acquisition would command a market cap of $97 million.
The company is set to be led by CEO and Chairman Robert Garnet, an attorney who serves as an advisor for an immigration services firm, a Canadian merchant bank, and a Singapore-based investment manager; as well as CFO and Director Yunmei Ma, the former CEO of Nasdaq-listed Taiwan-based EV firm Thunder Power. Charlton Aria Acquisition states it will pursue a merger with a company led by a strong management team, with strong growth potential, and a defensible market position.
The Wilmington, DE-based company was founded in 2024 and plans to list on the Nasdaq under the symbol CHARU. Charlton Aria Acquisition filed confidentially on July 19, 2024. Clear Street is the sole bookrunner on the deal.
