Cain Acquisition, a blank check company formed by Cain International targeting entertainment and real estate, withdrew its plans for an initial public offering on Monday. It had filed in March 2021 to raise $250 million by offering 25 million units at $10, with each unit containing one share of common stock and one-third of a warrant.
The company was set to be led by CEO, CFO, and Chairman Jonathan Goldstein, who is the Founder and CEO of Cain International and previously served as Head of European Real Estate and Direct Investments at Guggenheim. Cain Acquisition intended to target a prospective business within experiential hospitality, location-based entertainment, and real estate, with a particular focus on businesses that have a strong brand and service offerings anchored in physical asset development and management.
Cain Acquisition was founded in 2020 and had planned to list on the Nasdaq under the symbol CAINU. Credit Suisse was set to be the sole bookrunner on the deal.
