Mudrick Capital Acquisition II, the second blank check company formed by distressed debt investor Jason Mudrick to acquire a post-bankruptcy business, filed on Friday 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-half of a warrant, exercisable $11.50. At the proposed deal size, Mudrick Capital Acquisition II would command a market value of $375 million.
The company is led by CEO and Chairman Jason Mudrick, the founder and CIO of distressed debt investment firm Mudrick Capital Management. Mudrick’s previous SPAC, Mudrick Capital Acquisition, went public in February of 2018 and recently closed on its acquisition of Hycroft Mining Holding (HYMC; -24% from $10 offer price) in May of this year. Mudrick Capital Acquisition II plans