Harvard Ave Acquisition, a blank check company led by executives from PE firm Plutus Partners, filed on Tuesday with the SEC to raise up to $250 million in an initial public offering.
The Seoul, South Korea-based company plans to raise $250 million by offering 25 million units at $10. Each unit consists of one share of common stock and one right to receive one-eighth of a share upon the completion of an initial business combination.
Harvard Ave Acquisition is led by CEO and Director Sung Hyuk Lee and CFO and Director Hoon Ji Choi, who currently serve as CEO and Managing Director of private equity and high-value asset brokerage firm Plutus Partners, respectively. The SPAC plans to target businesses with strong management teams, long-term revenue visibility, and defensible market positions, among other characteristics.
Harvard Ave Acquisition was founded in 2024 and plans to list on the Nasdaq under the symbol HAVAU. D. Boral Capital is the sole bookrunner on the deal.
