Shepherd Ave Capital Acquisition, a blank check company targeting businesses with underexploited expansion opportunities, raised $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-fifth of a share upon the completion of an initial business combination.
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 plans to list on the Nasdaq under the symbol SPHAU. SPAC Advisory Partners acted as sole bookrunner on the deal.
