Aperture Acquisition, a blank check company targeting financials, business services, real estate, and tech, lowered the proposed deal size for its upcoming IPO on Friday.
The New York, NY-based company now plans to raise $275 million by offering 27.5 million units at $10. The company had previously filed to offer 35 million units at the same price. Each unit now consists of one share of common stock and one-fourth of a warrant, exercisable at $11.50. Units previously contained one-fifth of a warrant. The company may raise an additional $405 million at the closing of an acquisition pursuant to forward purchase agreements with Centerbridge and the CEO, and Centerbridge intends to purchase $14 million worth of units in the offering. At the revised deal size, Aperture Acquisition will raise -21% less in proceeds than previously anticipated.
The company is led by CEO and Chairman Lance West, who previously served as CEO and Chairman of Centerbridge Partners. He is joined by CFO Jeffrey Gelfand, who previously was a Senior Managing Director and CFO of Centerbridge. Aperture Acquisition intends to focus on industries that complement the management team’s background and capitalize on its ability to source and acquire a business focused on financial services and financial technology (or “fintech”), business services, real estate services, and related technology and software services sectors.
Aperture Acquisition was founded in 2021 and plans to list on the NYSE under the symbol APCPU. Goldman Sachs, Morgan Stanley, and Credit Suisse are the joint bookrunners on the deal.
