Oaktree Acquisition Corp, a blank check company led by former Goldman Sachs executive Patrick McCaney, filed on Friday with the SEC to raise up to $175 million in an initial public offering.
The Los Angeles, CA-based company plans to raise $175 million by offering 17.5 million units at a price of $10. At $10, Oaktree Acquisition Corp would command a market value of $219 million. Each unit will consist of one share of common stock and one-third of one warrant to purchase a share of common stock at $11.50 per share.
Oaktree Acquisition Corp was founded in 2019 and it plans to list on the NYSE under the symbol OAC.U. Credit Suisse and Deutsche Bank are the joint bookrunners on the deal.
