Horizon Acquisition, a blank check company formed by Todd Boehly of Eldridge Industries targeting a financial services business, raised $500 million by offering 50 million units at $10. Each unit consists of one share of common stock and one-third of a warrant exercisable at $11.50. The sponsor, an affiliate of Eldridge, indicated on $155 million of the offering (31%).
To screen for upcoming or past SPAC IPOs, sign up for a free trial of IPO Pro.
The company is led by CEO, CFO, and Chairman Todd Boehly. Boehly is the co-founder and CEO of Eldridge Industries, a holding company with a network of businesses across finance, technology, real estate, and entertainment. Prior to founding Eldridge in 2015, he was President of Guggenheim Partners.
The SPAC intends to focus on the financial services industry, particularly innovative platforms that support consumer access to financial wellness solutions, next-generation alternative asset management platforms, traditional financial services businesses requiring a capital infusion due to the current environment and insurance and related offerings, including insurance technology, administration, and other solutions.
Horizon Acquisition plans to list on the NYSE under the symbol HZAC.U. Credit Suisse, Deutsche Bank, and RBC Capital Markets acted as lead managers on the deal.
