bleuacacia, a blank check company targeting businesses that engage with millennial and Gen-Z consumers, filed on Monday with the SEC to raise up to $300 million in an initial public offering.
The New York, NY-based company plans to raise $300 million by offering 30 million units at $10 per unit. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50. At the proposed deal size, the company would command a market value of $375 million.
The company is led by co-CEO and co-Chairman Jide Zeitlin, former CEO and Chairman of luxury global retailer Tapestry (NYSE: TPR), and co-CEO and co-Chairman Lew Frankfort, former CEO and Chairman of Coach, the predecessor to Tapestry. The company aims to leverage management's experience to target businesses and brands with powerful emotional engagement with Millennial and Gen-Z consumers.
bleuacacia was founded in 2021 and plans to list on the NYSE under the symbol BLEU.U. The company filed confidentially on March 2, 2021. Credit Suisse, and Citi are the joint bookrunners on the deal.
