EF Hutton Acquisition I, a blank check company led by EF Hutton executives targeting consumer and retail, raised $100 million by offering 10 million units at $10. Each unit consists of one share of common stock, one right to receive one-eighth of a share upon the consummation of an initial business combination, and one warrant, exercisable at $11.50.
EF Hutton Acquisition I is led by Chairman and CEO Benjamin Piggott, a Managing Director at EF Huttonl, and Co-Presidents and Directors Joseph Rallo and David Boral, who serve as CEO and President of EF Hutton, respectively. The company plans to pursue opportunities within the consumer and retail industry, focusing on businesses with enterprise values in the range of $400 million to $1 billion.
EF Hutton Acquisition I plans to list on the Nasdaq under the symbol EFHTU. EF Hutton acted as sole bookrunner on the deal.
