Avenue's Boulevard to hit the Street: Blank check company files and sets terms for $350 million IPO

Boulevard Acquisition II, a second blank check company formed by the co-founders of Avenue Capital Management, filed and announced terms for its IPO on Tuesday.

The New York, NY-based company plans to raise $350 million by offering 35 million units at a price of $10. At the midpoint of the proposed range, Boulevard Acquisition II would command a market value of $438 million.

The blank check company is led by Chairman Marc Lasry, CEO Stephen Trevor and CFO Thomas Larkin. Boulevard Acquisition II states that it may pursue an acquisition in any industry and geography.

Management was also behind the $210 million February 2014 IPO of Boulevard Acquisition I, which recently announced that it would acquire the post-harvest specialty chemical business of The Dow Chemical Company and begin trading on the Nasdaq as AgroFresh under the symbol AGFS.

Boulevard Acquisition II, which was formed in 2015, plans to list on the Nasdaq but has not disclosed a symbol. Citi is the sole bookrunner on the deal. IPO timing was not disclosed.