Investcorp Europe Acquisition I, a blank check company formed by Investcorp targeting businesses in Europe, filed on Tuesday with the SEC to raise up to $250 million in an initial public offering.
The Cayman Islands-based company plans to raise $250 million by offering 25 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, Investcorp Europe Acquisition I would command a market value of $313 million.
The company is led by Chairman Hazem Ben-Gacem, the Co-CEO of Investcorp and trading firm CP Holdings; Vice Chairman Peter McKellar, the Deputy Chairman of AssetCo; and CEO Ruby McGregor-Smith, the President of the British Chambers of Commerce and former CEO of the Mitie Group. The company plans to target opportunities in Western Europe, including the UK, or Northern Europe and, opportunistically, in Turkey, focusing on the business services, consumer and lifestyle, niche manufacturing, and technology sectors.
Investcorp Europe Acquisition I was founded in 2021 and plans to list on the Nasdaq under the symbol IVCBU. The company filed confidentially on April 30, 2021. Citi and Credit Suisse are the joint bookrunners on the deal.
