Matlin & Partners Acquisition, a blank check company formed by distressed asset investor David Matlin, filed on Wednesday with the SEC to raise up to $300 million in an initial public offering.
The New Canaan, CT-based company plans to raise $300 million by offering 30 million units at a price of $10. At that price, the SPAC would command a market value of $375 million. Units consist of one share of common stock and one warrant; warrants may be exercised for one-half of one share of our Class A common stock at a price of $5.75 per half share.
Chairman and CEO David Matlin will own a 20% post-IPO stake.
Matlin & Partners Acquisition was formed in 2016 and plans to list on the Nasdaq under the symbol MPACU. Cantor Fitzgerald is the sole bookrunner on the deal. Deal timing has not been determined.
