Osiris Acquisition, a blank check company formed by Fortinbras Enterprises, raised $230 million by offering 23 million units at $10. The company offered 2 million fewer units than anticipated. 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.
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 plans to list on the NYSE under the symbol OSI.U. Jefferies acted as a lead manager on the deal.
