Colonnade Acquisition, a blank check company targeting the energy, real estate, and agricultural industries, filed on Tuesday with the SEC to raise up to $200 million in an initial public offering.
The West Palm Beach, FL-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 the proposed price, Colonnade Acquisition would command a market value of $250 million.
The company is led by Chairman Joseph Sambuco, the founder and CEO of Colonnade Properties, which he founded along with Prudential Real Estate Investors; and CEO and Director Remy Trafelet, the founder and CEO of private investment firm Trafelet & Company. The company plans to leverage its management team's expertise and network of relationships in the natural resources, energy, real estate and agricultural industries. The company intends to identify candidates with a current enterprise value of approximately $600 million to $1 billion and will seek companies domiciled in the US, Asia, or the UK.
Colonnade Acquisition was founded in 2020 and plans to list on the NYSE under the symbol CLA.U. Colonnade Acquisition filed confidentially on July 6, 2020. BTIG is the sole bookrunner on the deal.
