Atlas Crest Investment Corp., a blank check company formed by Moelis & Company, filed on Friday with the SEC to raise up to $500 million in an initial public offering.
The New York, NY-based company plans to raise $500 million by offering 50 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50. At the proposed deal size, Atlas Crest Investment Corp. would command a market value of $625 million.
The company is led by Chairman Ken Moelis, founder and Managing Director of Moelis & Company, and CEO Michael Spellacy, a former Senior Managing Director at Accenture and Global Industry Leader of Accenture Capital Markets. While the company selected a target industry, it plans to leverage its management team’s experience and target businesses that will benefit from its strategic and operational value add.
Atlas Crest Investment