Intrepid Acquisition I, a blank check company targeting the energy, natural resources, and infrastructure industries, filed on Wednesday with the SEC to raise up to $200 million in an initial public offering.
The Denver, CO-based company plans to raise $200 million by offering 20 million units at a price of $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, Intrepid Acquisition I would command a market value of $250 million.
The company is led by CEO and Chairman Robert Jornayvaz III, co-founder of Intrepid Potash (NYSE: IPI) predecessor Intrepid Mining, and CEO and Chairman of Intrepid Potash. The company plans to target the energy, natural resources and environmental and water infrastructure industries in North America.
The company was founded in 2021 and plans to list on the Nasdaq under the symbol IACIU. Cowen and Intrepid Partners are the joint bookrunners on the deal.
