Shelter Acquisition, a blank check company targeting real estate technology or proptech, filed on Wednesday with the SEC to raise up to $200 million in an initial public offering.
The Quogue, NY-based company plans to raise $200 million by offering 20 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, Shelter Acquisition will command a market value of $250 million.
The company is led by CIO and Chairman Jack Chandler, who founded Majesteka Investments in 2017 and previously served as Global Head and Chairman of Real Estate at BlackRock from 2011 to 2017. He is joined by CEO and Director Christopher Keber, who recently founded Three Oaks Capital serves as its CEO. Shelter Acquisition intends to concentrate on identifying businesses that provide technologically innovative solutions to the real estate industry, broadly defined as proptech.
Shelter Acquisition was founded in 2020 and plans to list on the Nasdaq under the symbol SHQAU. Citi and Wells Fargo Securities are the joint bookrunners on the deal.
