Constitution Acquisition, a blank check company formed by Old Ironsides targeting the natural gas value chain in North America, filed on Friday with the SEC to raise up to $200 million in an initial public offering.
The Waltham, MA-based company plans to raise $200 million by offering 20 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, Constitution Acquisition would command a market value of $250 million.
The company is led by CEO and Director Bruce Selkirk, the former CEO of Crossing Rocks Energy Partner and Crossing Rocks Energy II. Old Ironsides Energy co-founders and Managing Partners Sean O'Neill and Daniel Rioux serve as Directors. The company plans to target candidates in the natural gas value chain in North America, focusing on opportunities across the upstream, midstream, downstream, and power sectors, as well as other adjacent products, services, and technologies.
Constitution Acquisition was founded in 2021 and plans to list on the Nasdaq under the symbol USSCU. The company filed confidentially on June 2, 2021. Cowen and Intrepid Partners are the joint bookrunners on the deal.
