EG Acquisition, a blank check company formed by EnTrust Global and GMF Capital, filed on Monday 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-third of a warrant, exercisable at $11.50. Millennium Management intends to purchase up to 9.9% of units in the offering, and also has a forward purchase agreement with the company. At the proposed deal size, EG Acquisition would command a market value of $313 million.
The company is led by CEO and Director Gregg Hymowitz, a founder, Managing Partner, and CEO of investment firm EnTrust Global, and Chairman Gary Fegel, the founder and Chairman of GMF Capital. The company plans to leverage its management team's experience and target transportation and real assets, financial services, financial services technology, healthcare, real estate, and sustainability-focused businesses.
EG Acquisition was founded in 2021 and plans to list on the NYSE under the symbol EGGFU. The company filed confidentially on February 22, 2021. BTIG is the sole bookrunner on the deal.
