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Hawks Acquisition Priced, NYSE: HWKZ.U

Blank check company formed by JC Hawks & Co. targeting post-reorganized or highly levered businesses (liquidated).

Industry: SPAC

First Day Return: -1.4%

Industry: SPAC

We are a newly incorporated blank check company. Our sponsor was formed by JC Hawks & Co., which is led by J. Carney Hawks, our Chairman and Chief Executive Officer. Mr. Hawks was founding partner of Brigade Management until his retirement from the firm at the end of 2019. Our business strategy focuses on two types of companies: those that have emerged privately from bankruptcy court protection and are owned by their former creditors or those that are privately owned and could benefit from an infusion of equity capital as part of a balance sheet recapitalization. We believe there is a sizable universe of companies that meet the prior criteria. While many of these companies are subscale or continue to struggle to turnaround their business operations, there is a meaningful subset of quality companies whose growth and performance are being limited by excessive leverage or the constraints imposed on them from restrictive covenants and tight liquidity that result from their reorganization/?bankruptcy. We believe that these companies would greatly benefit from the capital infusion and public listing a combination with a blank check company would provide. We also believe that members of our management team and board would provide expertise to these companies as they navigate the post-reorganization time period.
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Hawks Acquisition (HWKZ.U) Performance