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SPAC Dundon Capital files and sets terms for a $400 million IPO

November 9, 2015
DCAU

Dundon Capital Acquisition, a blank check company led by the former Santander Consumer CEO, filed and set terms on Monday with the SEC to raise up to $400 million in an initial public offering. The company plans to offer 40 million shares at $10.

CEO Thomas Dundon started an auto finance business 20 years ago that grew into Santander Consumer when Banco Santander invested in the company in 2006. Dundon led the IPO of Santander Consumer in January 2014 as the CEO and chairman. He is the sole shareholder of Dundon Capital Acquisition through the sponsor, DCAC Sponsor LLC. 

The Dallas, TX-based company, which was founded in 2015, plans to list on the Nasdaq under the symbol DCAU. UBS Investment Bank is the sole bookrunner on the deal.