DJ Blank-Check Co. Tristar Acquisition I Corp. Files for IPO
By Stephen Nakrosis
Blank-check company Tristar Acquisition I Corp. filed for a $250 million initial public offering Friday 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."
Wells Fargo Securities is listed as the offering's sole book-running manager and Loop Capital Markets is listed as co-manager.
--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
April 02, 2021 18:18 ET (22:18 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
