Cascadia Acquisition, a blank check company formed by Cascadia Capital targeting "Industry 4.0", filed on Thursday with the SEC to raise up to $150 million.
The Seattle, WA-based company plans to raise $150 million by offering 15 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, Cascadia Acquisition would command a market value of $188 million.
The company is led by Chairman Michael Butler, the co-founder and CEO of investment bank Cascadia Capital, and CEO and Director Jamie Boyd, a Managing Director and investment banker at Cascadia Capital. The company plans to target industry sectors that are being fundamentally reshaped by the introduction of advanced technologies, which it refers to as "Industry 4.0."
Cascadia Acquisition was founded in 2021 and plans to list on the Nasdaq under the symbol CCAI.U. The company filed confidentially on March 4, 2021. Cantor Fitzgerald is the sole bookrunner on the deal.
