Trident Acquisitions, a blank check company formed to acquire an energy company in Eastern Europe, filed on Wednesday with the SEC to raise up to $175 million in an initial public offering.
The New York, NY-based company plans to offer 17.5 million units at a price of $10. At that price, Trident Acquisitions would command a market value of $230 million. Each unit consists of one share of common stock and one warrant exercisable at $11.50/share.
The New York, NY-based company was founded in 2016 and plans to list on the Nasdaq under the symbol TDACU. Trident Acquisitions filed confidentially on May 3, 2016. Chardan Capital Markets is the sole bookrunner on the deal. No pricing terms were disclosed.
