Northern Star Acquisition, a blank check company formed by Joanna Coles and SPAC veteran Jonathan Ledecky, filed on Tuesday with the SEC to raise up to $300 million in an initial public offering.
The New York, NY-based company plans to raise $300 million by offering 30 million units at $10. Each unit consists of one share of common stock and one-quarter of a warrant, exercisable at $11.50. At the proposed deal size, Northern Star Acquisition would command a market value of $375 million.
The company is led by CEO Joanna Coles, who has been the Executive Producer of ABC Freeform’s “The Bold Type” since 2016, and CFO James Brady, who currently serves as the CFO of Pivotal II and Airside Mobile. The company plans to target consumer-focused businesses primarily in the beauty, wellness, self-care, fashion, e-commerce, subscription, and digital-media space.
Northern Star Acquisition was founded in 2020 and plans to list on the NYSE (RC ticker NSU.RC). Northern Star Acquisition filed confidentially on July 31, 2020. Citi is the sole bookrunner on the deal.
The article Consumer-focused SPAC Northern Star Acquisition files for a $300 million IPO originally appeared on IPO investment manager Renaissance Capital’s web site renaissancecapital.com.
Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital’s research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital’s Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.