DiamondPeak Holdings, a blank check company led by David Hamamoto targeting the real estate industry, raised $250 million by offering 25 million units at $10, commanding a market value of $313 million. The units consist of one share of common stock and one-third of one warrant to purchase a share of common stock at $11.50.
The sponsor and BlackRock intend to purchase $33 million worth of units in the offering and CEO David Hamamoto intends to purchase $10 million worth of units (together 17% of the deal).
DiamondPeak Holdings plans to list on the Nasdaq under the symbol DPHCU. Deutsche Bank acted as lead manager on the deal.
