Hunter Maritime Acquisition, a blank check company formed by Belgium's Saverys family to acquire a drybulk shipping company, announced terms for its IPO on Tuesday.
The Majuro, Marshall Islands-based company plans to raise $150 million by offering 15 million units at a price of $10. At that price, it would command a fully diluted market value of $188 million. Units consist of one Class A common share and one half warrant; whole warrants are exercisable at $11.50 per share.
Chairman Marc Saverys is the principal shareholder of oil tanker operator Euronav (EURN), which IPO'd in the US in early 2015.
Hunter Maritime Acquisition was formed in 2016 and plans to list on the Nasdaq under the symbol HUNTU. Morgan Stanley is the sole bookrunner on the deal. IPO timing has not been determined.
