Liberty Resources Acquisition, a blank check company targeting the oil and gas sectors, raised $100 million by offering 10 million units at $10. Each unit consists of one share of common stock and one warrant, exercisable at $11.50.
The company is led by CEO and Chairman Maznah Binti Abdul Jalil, who most recently served as the Executive Director and CFO of Sona Petroleum Berhad. The company plans to leverage management's experience and target the oil and gas sectors, focusing on businesses with enterprise values between $200 million and $2 billion.
Liberty Resources Acquisition plans to list on the Nasdaq under the symbol LIBYU. EF Hutton acted as sole bookrunner on the deal.
