Edify Acquisition, a blank check company formed by Colbeck Capital Management targeting the education sector, filed on Monday with the SEC to raise up to $200 million in an initial public offering.
The New York, NY-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 deal size, Edify Acquisition would command a market value of $250 million.
The company is led by CEO Peter Ma, a Partner and Managing Director at Colbeck, and Chairwoman Susan Wolford, who recently ended her 17-year tenure at BMO Capital Markets, where she most recently was Vice Chairman. The company plans to target the learning and talent management industry, including the education, edtech, workforce development, and HCM sectors.
Edify Acquisition was founded in 2020 and plans to list on the Nasdaq under the symbol EACU. The company filed confidentially on November 25, 2020. BMO Capital Markets and B. Riley FBR are the joint bookrunners on the deal.
