AF Acquisition, a blank check company targeting the food and beverage, wellness, beauty, pet, and personal care sectors, filed on Thursday with the SEC to raise up to $200 million in an initial public offering.
The Palm Beach, FL-based company plans to raise $200 million by offering 20 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, AF Acquisition would command a market value of $250 million.
AF Acquisition is a partnership between AF Ventures, Scharf Brothers, and Mistral Equity Partners. The company is led by Chairman Andrew Scharf, who is a Principal and CIO of Scharf Brothers, and CEO and Director Jordan Gaspar, the founder and Managing Partner of AF Ventures. The company plans to leverage its management team's experience in the better-for-you consumer packaged goods industry and target the food and beverage, health and wellness, beauty, pet, and personal care sectors in the US.
AF Acquisition was founded in 2021 and plans to list on the Nasdaq under the symbol AFAQU. The company filed confidentially on January 27, 2021. Cowen is the sole bookrunner on the deal.
