Signal Hill Acquisition, a blank check company targeting DTC media, tech, and emerging digital enterprise-focused businesses, filed on Thursday with the SEC to raise up to $100 million in an initial public offering.
The Wilmington, DE-based company plans to raise $100 million by offering 10 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, Signal Hill Acquisition would command a market value of $125 million.
The company is led by CEO and Director Jonathan Bond, co-founder and former CEO of integrated advertising and media agency Kirshenbaum Bond Senecal & Partners; CFO and President Grainne Coen, founder and Partner of diversified investment group Elevation Investment Partners; and Chairman Paul Roberts, the CEO of digital marketing platform Kubient (Nasdaq: KBNT). The company plans to target direct-to-consumer (DTC) media, technology, and emerging digital enterprise-focused businesses in the US.
Signal Hill Acquisition was founded in 2021 and plans to list on the Nasdaq under the symbol SGHLU. The company filed confidentially on July 2, 2021. B. Riley Securities is the sole bookrunner on the deal.
