Opes Acquisition, a blank check company formed by Axis Capital Management to acquire a Mexican business, filed on Tuesday with the SEC to raise up to $100 million in an initial public offering.
The Mexico City, Mexico-based company plans to raise $100 million by offering 10 million units at a price of $10. At that price, Opes Acquisition would command a market value of $129 million. Each unit consists of one share of common stock and one warrant exercisable at $11.50.
Opes Acquisition was formed in 2017 and plans to list on the Nasdaq under the symbol OPESU. EarlyBirdCapital is the sole bookrunner on the deal. IPO timing has not been determined.
