Acropolis Infrastructure Acquisition, a blank check company formed by Apollo targeting infrastructure and infrastructure services in North America, lowered the proposed deal size for its upcoming IPO on Thursday.
The New York, NY-based company now plans to raise $300 million by offering 30 million units at $10. The company had previously filed to offer 40 million units at the same price. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50. At the revised deal size, Acropolis Infrastructure Acquisition will raise -25% less in proceeds than previously anticipated.
The company is led by CEO and Director Geoffrey Strong, a Senior Partner and Co-Lead of the Global Infrastructure and Natural Resources groups at Apollo, and Chairman Dylan Foo, a Senior Partner and Co-Lead of the Global Infrastructure platform at Apollo. The company plans to target the infrastructure, infrastructure services, and related sectors in North America.
Acropolis Infrastructure Acquisition was founded in 2020 and plans to list on the NYSE under the symbol ACRO.U. Credit Suisse, Apollo Global Securities, Citi, Barclays, and Evercore ISI are the joint bookrunners on the deal.
