Crixus BH3 Acquisition, a blank check company formed by BH3 Management targeting real estate-focused businesses, 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. Certain anchor investors had indicated on 19.98 million units in the offering (99.9% of the deal).
The company is led by Co-CEO and Director Daniel Lebensohn and Co-CEO, CFO, and Director Gregory Freedman, the co-founders and Co-CEOs of BH3 Management, a vertically integrated real estate investor, operator, and developer. The company plans to target businesses that manage, finance, operate, construct, control, or support real estate or which derive a large component of revenue from real estate, construction, or infrastructure related activities.
Crixus BH3 Acquisition plans to list on the Nasdaq under the symbol BHACU. Guggenheim Securities and BTIG acted as joint bookrunners on the deal.
