Financials SPAC Blue Room Acquisition withdraws $200 million IPO

Blue Room Acquisition, a blank check company led by MKM Bolsa Privada executives targeting the financial sector, withdrew its plans for an initial public offering on Tuesday. It had filed to raise $200 million by offering 20 million units at $10, with each unit containing one share of common stock, one right to receive one-tenth of a share upon the completion of an initial business combination, and one warrant.

The SPAC was set to be led by CEO and Chairman Erick Deneb Flores Garcia, the founder and CEO of Mexico-based financial services firm MKM Bolsa Privada. It had planned to target the financial sector, with a focus on US-based businesses with market values between $250 million and $500 million.

The New York, NY-based company was founded in 2023 and had planned to list on the Nasdaq under the symbol IBLUU. Maxim Group LLC was set to be the sole bookrunner on the deal.