Capstar Special Purpose Acquisition, a blank check company formed by investment firm Capstar Partners, filed on Thursday with the SEC to raise up to $200 million in an initial public offering.
The Austin, TX-based company plans to raise $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At $10, Capstar Special Purpose Acquisition would command a market value of $250 million.
The company is led by CEO, CFO, and Chairman Steven Hicks. Hicks is the founder and Chairman of Capstar Partners, a private investment firm that participates in small and middle market buyouts, real estate development, and public and other private investments. Capstar Special Purpose Acquisition intends to target a business in the consumer, healthcare, and TMT industries.
Capstar Special Purpose Acquisition was founded in 2020 and plans to list on the NYSE under the symbol CPSR.U. Capstar Special Purpose Acquisition filed confidentially on March 6, 2020. Citi, UBS Investment Bank, and BTIG are the joint bookrunners on the deal.
