DHC Acquisition, a blank check company targeting tech-enabled businesses in a variety of sectors, filed on Tuesday with the SEC to raise up to $250 million in an initial public offering.
The Southlake, TX-based company plans to raise $250 million by offering 25 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50. At the proposed deal size, DHC Acquisition would command a market value of $313 million.
The company is led by Co-CEO, CFO, and Director Christopher Gaertner, who currently serves as Vice Chairman and Global Head of Technology Investment Banking at Rothschild & Co, and Co-CEO Thomas Morgan Jr., who is the founder and CEO of wealth management firm Corps Capital Advisors. The company plans to leverage its management team's background to target technology and technology-enabled businesses in the automotive, consumer, aerospace/defense, fintech, enterprise software, and e-commerce sectors.
DHC Acquisition was founded in 2020 and plans to list on the Nasdaq under the symbol DHCAU. The company filed confidentially on January 15, 2021. Citi is the sole bookrunner on the deal.
