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BurgerFi (Opes Acquisition) Priced, Nasdaq: BFI

Blank check company formed by Axis Capital Management to acquire a Mexican business (completed 12/17/2020).

Industry: SPAC

First Day Return: +0.2%

Industry: SPAC

Opes Acquisition Corp. is a blank check company formed in 2017 for the purpose of entering into a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar business combination with one or more target businesses. Our efforts to identify a prospective target business will not be limited to a particular industry or geographic region, though we intend to focus our search for target businesses on Mexico. We will seek to capitalize on the significant contacts and operations of our sponsor, Axis Capital Management, a private investment firm founded in 1990 and headquartered in Mexico City. We believe there is significant opportunity in Mexico. Structural approved reforms in sectors spanning from energy to telecom and the financial sector (among others), appear to be gaining traction, are expected to increase annual GDP between 0.8%-1.8%, and also is expected to boost foreign direct investment in future years, ultimately to reach $40 billion by 2020. Chief Executive Officer José Antonio Cañedo White has served as a Managing Partner of Axis since 1990, and Chairman Gonzalo Gil White has served as a Managing Partner and CEO of Axis since 2012.
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BurgerFi (Opes Acquisition) (BFI) Performance