DJ Tristar Acquisition I Corp., Lamar Partnering Corp. File for IPOs -- SPAC Tracker
SPAC Tracker is a weekly feature highlighting some of the special purpose acquisition companies, also known as blank-check companies, which have filed for initial public offerings with the U.S. Securities and Exchange Commission during the past week.
Tristar Acquisition I Corp.
Tristar Acquisition I Corp. filed for a $250 million initial public offering on April 2 and said it intends to apply to list its units on the New York Stock Exchange under the symbol 'TRIS.U.'
The company said its sponsor, Tristar Holdings I LLC, "has secured financial commitment from an affiliate of Navigation Capital Partners LLC."
The current principals of Navigation Capital were sponsors of Pensare Acquisition Corp., a blank-check company that completed a business combination last year, Tristar Acquisition said. The combined company, American Virtual Cloud Technologies, lists its shares on the Nasdaq.
Tristar Acquisition said Navigation Capital also invested in the sponsor groups of several other special purpose acquisition companies.
The company also said, "we intend to focus our search for a target business in the telecommunications and technology oriented sector."
Black Dragon Acquisition Corp. I
Black Dragon Acquisition Corp. I filed for a $250 million IPO on April 2.
The company said its sponsor, Black Dragon Capital Holdings I LLC, is an affiliate of private investment firm Black Dragon Capital Investment Management LLC.
The company also said, "we intend to capitalize on the ability of our management team and sponsor to identify, acquire and manage a business in the e-Commerce, sports and media technology, or payments and financial technology sectors."
EG Acquisition Corp.
EG Acquisition Corp. filed for a $250 million IPO on Monday, and said it applied to list its units on the New York Stock Exchange under the symbol "EGGFU."
The company said its sponsor, EG Sponsor LLC, is affiliated with global investment firm EnTrust Global.
EG Acquisition also said that Gary Fegel, founder of investment firm GMF Capital, has agreed to serve as chairman.
"We expect that EnTrust Global's extensive experience in raising capital and sourcing, evaluating and executing a variety of transactions will be a valuable asset for us," EG Acquisition said. It also said there are certain sectors it believes are particularly complemented by the expertise and relationships of EnTrust Global and GMF Capital, including "transportation and real assets, financial services, financial services technology, healthcare, real estate, and sustainability-focused businesses."
Lamar Partnering Corp.
Lamar Partnering Corp. filed for a $300 million IPO on Tuesday.
The company said its sponsor, Lamar Partnering Sponsor LLC, is a wholly owned indirect subsidiary of Lamar Advertising Co.
The company also said, "we intend to capitalize on the experience and skills of our management team and sponsor" by focusing its search for an acquisition on digital media, advertising technology, international advertising, and distributed energy and wireless communications infrastructure.
Lamar Partnering Corp. said it intends to apply to list its units on the Nasdaq under the symbol "LPCXU."
ION Acquisition Corp 3 Ltd.
ION Acquisition Corp 3 Ltd. filed for a $250 million IPO on Tuesday.
The company said its sponsor, ION Holdings 3 LP, is an affiliate of Israel-based investment management group ON Asset Management.
The company also said, "We intend to focus on the rapidly growing universe of Israeli companies and entrepreneurs that apply technology and innovation to everyday lives."
ION Acquisition Corp 3 Ltd. said members of its management team led blank-check companies ION Acquisition Corp 1 Ltd. and ION Acquisition Corp 2 Ltd. in their initial public offerings.
Taboola.com Ltd. in January said it would go public via a merger with ION Acquisition Corp 1 Ltd.
Innovatus Life Sciences Acquisition Corp.
Innovatus Life Sciences Acquisition Corp. filed for a $175 million IPO on Tuesday.
The company said it planned to offer 17.5 million shares of stock at $10 per share, adding that investors in the offering won't receive any warrants, which are commonly offered in the IPOs of special purpose acquisition companies.
Innovatus Life Sciences Acquisition Corp. said it plans to initially focus its search on "identifying a prospective target business in the life sciences sector."
The company said its chairman and chief executive, David Schiff, is a founding partner of Innovatus Capital Partners LLC, "a New York-based registered investment adviser and portfolio management firm with over $1.6 billion in capital under management as of Dec. 31, 2019."
The company also said, "We believe the extensive relationship network of our management team and from our affiliation with Innovatus Capital, combined with our operating, investing, capital markets and transaction experience, provide us with a competitive advantage."
International Media Acquisition Corp.
International Media Acquisition Corp. filed for a $200 million IPO on Wednesday.
The company said, "we intend to pursue targets in North America, Europe and Asia in the media and entertainment industry," and added, "we intend to focus specifically on companies that are positioned to benefit directly from the growth of digitally available content."
The company also said, "we believe India and other emerging economic markets, as well as China, represent excellent markets in which to find strong candidates for our initial business combination because of their relatively high growth rates."
Clover Leaf Capital Corp.
Clover Leaf Capital Corp. filed for a $125 million IPO on Wednesday.
The company said, "we intend to focus our search on businesses in the cannabis industry that are compliant with all applicable laws and regulations within the jurisdictions in which they are located or operate."
The company also said, "The new regulatory landscape of cannabis has created a new legalized industry, for both the medical and recreational use of cannabinoid products."
Clover Leaf Capital said its sponsor, Yntegra Capital Investments LLC, is an affiliate of Yntegra Capital Management LLC. "Yntegra Capital Management LLC has common ownership with a portfolio of companies that includes cannabis and real estate investments, among others," Clover Leaf Capital said.
Tetragon Acquisition Corporation I
Tetragon Acquisition Corporation I filed for a $500 million IPO on Thursday, and said it intends to apply to list its units on the Nasdaq Capital Market under the symbol "TACQU."
The company said its sponsor, TFG Asset Management Sponsor LLC, is an affiliate of TFG Asset Management, Tetragon Financial Group Ltd.'s diversified alternative asset manager.
The company also said, "we currently intend to concentrate our efforts on the alternative asset management industry: firms managing public and private funds, including private equity, buyout, venture and growth capital and credit funds and accounts."
--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
April 09, 2021 14:00 ET (18:00 GMT)
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