MSD Acquisition, a blank check company formed by MSD Partners, filed on Friday with the SEC to raise up to $500 million in an initial public offering.
The New York, NY-based company plans to raise $500 million by offering 50 million units at $10. Each unit consists of one share of common stock and one-fifth of a warrant, exercisable at $11.50. The company may raise an additional $50 million at the closing of an acquisition pursuant to a forward purchase agreement with MSD Partners. At the proposed deal size, MSD Acquisition would command a market value of $625 million.
The company is led by CEO and Director Gregg Lemkau, who is currently the CEO and a Partner of MSD Partners, and Chairman John Phelan, who is Co-Founding Partner and CIO of MSD Partners and MSD Capital. While it has not selected a target industry, the company plans to focus on businesses in high-growth sectors, with large and growing end markets, superior unit economics, and sustainable competitive advantages.
MSD Acquisition was founded in 2021 and plans to list on the Nasdaq under the symbol MSDAU. Goldman Sachs and Morgan Stanley are the joint bookrunners on the deal.
