Shelter Acquisition, a blank check company targeting real estate technology or proptech, raised $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. In its latest filing, the company disclosed that anchor investors had indicated an interest in buying up to $175 million of the IPO.
The company is led by CIO and Chairman Jack Chandler, who founded Majesteka Investments in 2017 and previously served as Global Head and Chairman of Real Estate at BlackRock from 2011 to 2017. He is joined by CEO and Director Christopher Keber, who recently founded Three Oaks Capital and serves as its CEO.
Shelter Acquisition intends to concentrate on identifying businesses that provide technologically innovative solutions to the real estate industry, broadly defined as proptech.
The Quogue, NY-based SPAC plans to list on the Nasdaq under the symbol SHQAU. Citi, and Wells Fargo Securities acted as joint bookrunners on the deal.
