Colonnade Acquisition, a blank check company targeting the energy, real estate, and agricultural industries, raised $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.
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 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 plans to list on the NYSE under the symbol CLA.U. BTIG acted as a lead manager on the deal.
