Stellar Acquisition files and sets terms for $80 million IPO

Stellar Acquisition, a blank check company formed to acquire international energy logistics companies, announced terms for its IPO on Friday.

The New York, NY-based company plans to raise $80 million by offering 8 million shares at a price range of $10 to $10. At the midpoint of the proposed range, Stellar Acquisition would command a fully diluted market value of $100 million.

Stellar Acquisition was founded in 2015. It plans to list on the Nasdaq under the symbol STLRU. Maxim Group LLC is the sole bookrunner on the deal. No pricing date was disclosed.