Yellowstone Acquisition, a blank check company formed by Boston Omaha Corp. targeting the financial and real estate sectors, raised $125 million by offering 12.5 million units at $10. The company offered 2.5 million fewer units than anticipated. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. The company originally planned to offer 20 million units before decreasing the unit offering earlier this month.
The company is led by Co-CEOs and Co-Chairmen Adam Peterson and Alex Rozek, who both serve as the Co-Chairs and Co-CEOs for Boston Omaha Corp (Nasdaq: BOMN). The SPAC plans on targeting a company in the US with operations in the homebuilding, manufacturing related to homebuilding, financial services, and the commercial real estate industries.
Yellowstone Acquisition plans to list on the Nasdaq under the symbol YSACU. Wells Fargo Securities acted as sole bookrunner on the deal.
