Tiberius Acquisition, a blank check company formed to acquire a middle-market insurance business, filed on Tuesday with the SEC to raise up to $150 million in an initial public offering.
The Metairie, LA-based company plans to raise $150 million by offering 15 million units at a price of $10. At that price, Tiberius Acquisition would command a market value of $188 million. Each unit consists of one share of common stock and one warrant to purchase one share of common stock.
Tiberius Acquisition was formed in 2015 and plans to list on the Nasdaq under the symbol TIBRU. Cantor Fitzgerald and Dowling & Partners are the joint bookrunners on the deal.
