Callodine Acquisition, a blank check company formed by Callodine Group targeting the asset management industry, filed on Friday with the SEC to raise up to $250 million in an initial public offering.
The Boston, MA-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, Callodine Acquisition will command a market value of $313 million.
The company is led by CEO and Chairman James Morrow, who is the Founder and CEO of Callodine Group and previously served a 19 year tenure in asset management at Fidelity Investments. He is joined by CFO, COO, and Director Austin McClintock, who is the CFO and COO of Callodine Group. Callodine Acquisition intends to focus on businesses within the asset management industry that provide significant opportunities for growth and attractive investor returns.
Callodine Acquisition was founded in 2021 and plans to list on the Nasdaq under the symbol CALQU. It filed confidentially on February 5, 2021. Wells Fargo Securities is the sole bookrunner on the deal.
