Western Acquisition Ventures, a blank check company targeting various industries including infrastructure and health, filed on Wednesday with the SEC to raise up to $150 million in an initial public offering.
The New York, NY-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 warrant to purchase one-half of a share, exercisable at $11.50. At the proposed deal size, Western Acquisition Ventures would command a market value of $190 million.
The company is led by CEO and Director Stephen Christoffersen, the CFO of of KushCo Holdings (OTCQX: KSHB), and CFO and Director William Lischak, the CEO of RightsTrade and Interim CFO of Johnson Management Group. The company plans to target businesses with compelling long-term growth prospects, strong secular tailwinds, and highly fragmented markets ripe for consolidation opportunities. Its target sectors may include infrastructure and environmental services; health, wellness and food sustainability; financial technology and financial services; enterprise software and SaaS; and leisure and hospitality.
Western Acquisition Ventures was founded in 2021 and plans to list on the Nasdaq under the symbol WAVSU. A.G.P. is the sole bookrunner on the deal.
