OmniLit Acquisition, a blank check company formed by the founder of Syntec Optics targeting advanced manufacturing, raised $125 million by offering 12.5 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50.
The company is led by CEO and Chairman Al Kapoor, the founder and Chairman of Syntec Optics, a full-service and integrated optics and photonics solution provider. The company plans to target the advanced manufacturing industry, specifically the photonics or optics products, services, and end markets, and related products, services, and end markets.
OmniLit Acquisition plans to list on the Nasdaq under the symbol OLITU. Imperial Capital and I-Bankers Securities acted as joint bookrunners on the deal.
