BCGF Acquisition, a blank check company targeting the biotechnology industry, filed on Monday with the SEC to raise up to $87 million in an initial public offering.
The company plans to raise $87 million by offering 8.7 million units at $10. Each unit contains one share of common stock and one warrant, exercisable at $11.50. At the proposed deal size, BCGF Acquisition would command a market cap of $114 million.
BCGF Acquisition is led by CEO and Chairman Tassapon Bijleveld, the Executive Chair of Asia Aviation (SET: AAV) and its joint venture with AirAsia, Thai AirAsia. He is joined by CFO and Director Piyawat Ratchapolsitte, who previously served as the CFO of Thai cosmetics company Do Day Dream (SET: DDD). The company plans to target the biotech industry, focusing on businesses with enterprise values between $100 million and $1 billion. It will not pursue opportunities in China, Hong Kong, or Macau.
The Bangkok, Thailand-based company was founded in 2022 and plans to list on the Nasdaq under the symbol BCGFU. EF Hutton is the sole bookrunner on the deal.
