Able Brands, a blank check company formed by Able Partners targeting "better-for-you" consumer-facing businesses, filed on Friday with the SEC to raise up to $225 million in an initial public offering.
The New York, NY-based company plans to raise $225 million by offering 22.5 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, Able Brands would command a market value of $281 million.
The company is led by Chairperson Lisa Blau and CEO and Director Amanda Eilian, who both serve as Founding Partners of evergreen consumer fund Able Partners. Able Brands plans to target consumer-facing companies that are delivering a unique value proposition to address wellbeing through better-for-you products and services, focusing on themes including intentional wellness and accessible nutrition, among others.
Able Brands was founded in 2021 and plans to list on the Nasdaq under the symbol ABCOU. Goldman Sachs is the sole bookrunner on the deal.
