Evo Acquisition, a blank check company formed by Evolution Capital Management targeting the tech and financial sectors, raised $109 million by offering 10.9 million units at $10. The company offered 0.9 million more units than anticipated. 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 Michael Lerch, the founder and CIO Evolution Capital Management, a US-based investment manager that is a member of the Evolution Financial Group. He is joined by CEO and Director Richard Chisholm, who currently serves as CEO of Evolution Capital Management, and CFO Adrian Brindle, who currently serves as CFO of Evolution Financial Group. The company plans to target businesses in the technology and financial sectors with enterprise values between $250 million and $750 million.
Evo Acquisition plans to list on the Nasdaq under the symbol EVOJU. B. Riley FBR and SMBC Nikko acted as lead managers on the deal.
