MCAP Acquisition, a blank check company formed by Monroe Capital targeting technology, filed on Monday with the SEC to raise up to $250 million in an initial public offering.
The Chicago, IL-based company plans to raise $250 million by offering 25 million units at $10. Each unit will consist of one share of common stock and one-third of a warrant, exercisable at $11.50. At the proposed deal size, MCAP Acquisition will command a market value of $313 million.
The company is led by CEO and Chairman Theodore Koenig, who has been the CEO and Chairman of Monroe Capital Corporation (Nasdaq: MRCC) since 2011. He is joined by Co-President Zia Uddin, who is a Partner at Monroe Capital; Co-President Mark Solovy, who serves as a Managing Director and Co-Head of the Technology Finance Group at Monroe Capital; and CFO Scott Marienau, who is the CFO of Monroe Capital's management company. MCAP Acquisition intends to capitalize on management’s differentiated ability to source, acquire, and manage software, technology-enabled, and business services companies.
MCAP Acquisition was founded in 2020 and plans to list on the Nasdaq under the symbol MACQU. Cowen is the sole bookrunner on the deal.
