I-AM Capital Acquisition, an India-focused blank check company, filed on Wednesday with the SEC to raise up to $50 million in an initial public offering.
The New York, NY-based company plans to offer 5 million units at a price of $10. At that price, I-AM Capital Acquisition would command a market value of $66 million. Each unit consists of one share of common stock and one warrant exercisable at $11.50.
I-AM Capital Acquisition was formed in 2017 and plans to list on the Nasdaq under the symbol IAMU. Maxim Group LLC is the sole bookrunner on the deal. IPO timing has not been determined.
