Siddhi Acquisition, a blank check company formed by Siddhi Holdings targeting high-growth businesses, filed on Friday with the SEC to raise up to $200 million in an initial public offering.
The New York, NY-based company plans to raise $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one right to receive one-tenth of a share upon the completion of an initial business combination.
Siddhi Acquisition is led by Chairman Brian Finn and CEO and Director Sam Potter, who currently serve as Chairman and Partner of growth equity firm Siddhi Holdings, respectively. The SPAC plans to target high-growth businesses believed to be positioned to take advantage of major secular trends in their industry. While it is not constrained to any specific industry, the company's management team has extensive experience in consumer brands, food & beverage, and food technology.
Siddhi Acquisition was founded in 2024 and plans to list on the Nasdaq under the symbol SDHIU. The company filed confidentially on August 20, 2024. Santander is the sole bookrunner on the deal.
