Osiris Acquisition, a blank check company formed by Fortinbras Enterprises, filed on Friday with the SEC to raise up to $250 million in an initial public offering.
The New York, NY-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-half 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 the sponsor. At the proposed deal size, Osiris Acquisition would command a market value of $313 million.
The company is led by CEO and Director Benjamin Black, the founder and Managing Partner of special situations investment fund Fortinbras Enterprises; President and Director Benjamin Fader-Rattner, the Managing Member of Space Summit Capital; and Chairman Michael Abt, the CEO of Ascent Hospitality Management. The company plans to target fundamentally strong franchises that are facing temporary dislocation due to COVID-19 and may benefit from incremental capital, particularly those with strong and recognizable brands.
Osiris Acquisition was founded in 2020 and plans to list on the NYSE under the symbol OSI.U. The company filed confidentially on March 12, 2021. Jefferies is the sole bookrunner on the deal.
