Silver Run Acquisition, a blank check company formed by Mark Papa and Riverstone to acquire an energy business, announced terms for its IPO on Wednesday.
The Houston, TX-based company plans to raise $400 million by offering 40 million shares at a price range of $10. At the proposed price, Silver Run Acquisition would command a fully diluted market value of $500 million.
Silver Run Acquisition was founded in 2015 and plans to list on the Nasdaq under the symbol SRAQU. Deutsche Bank, Citi and Goldman Sachs are the joint bookrunners on the deal. It is expected to price during the week of February 22, 2016.
