Cascade Acquisition, a blank check company targeting the financial services industry, 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 CEO and Chairman Jay Levine, who currently serves as Chairman of OneMain Financial (NYSE: OMF) and previously was its CEO from 2011 to 2018, and CFO and COO Daniel Hirsch, who was an advisor to Trinity Investments' SPAC acquisition of Broadmark Realty Capital (Nasdaq: BRMK) and currently serves on its board. Cascade Acquisition plans to focus on the financial services industry, specifically within alternative lending, asset management, business process outsourcing, housing and commercial real estate finance, insurance and tech-enabled business opportunities.
Cascade Acquisition plans to list on the NYSE under the symbol CAS.U. Credit Suisse and Morgan Stanley acted as lead managers on the deal.
