Everest Consolidator Acquisition, a blank check company targeting the wealth management industry, filed on Tuesday with the SEC to raise up to $150 million in an initial public offering.
The Newport Beach, CA-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, Everest Consolidator Acquisition would command a market value of $188 million.
The company is led by CEO and Chairman Adam Dooley, the founder and CEO of private equity firm Belay International and former President of PREP Securities, a broker-dealer subsidiary of the Prep Property Group. The company plans to target the wealth management industry, including independent financial advisory providers as well as wealth management-focused technology companies (Wealthtech).
Everest Consolidator Acquisition was founded in 2021 and plans to list on the NYSE under the symbol MNTN.U. The company filed confidentially on May 25, 2021. BofA Securities is the sole bookrunner on the deal.
