KLR Energy Acquisition, a blank check company led by the former CEO of EPL Oil and & Gas to acquire a US E&P, lowered the proposed deal size for its upcoming IPO on Wednesday.
The Houston, TX-based company now plans to raise $100 million by offering 10 million shares at a price of $10, down from 13 million shares previously.
KLR Energy Acquisition was founded in 2016 and plans to list on the Nasdaq under the symbol KLREU. EarlyBird Capital, Inc. is the sole bookrunner on the deal. It is expected to price during the week of February 29, 2016.
