TMT blank check company M I Acquisitions sets terms for $50 million IPO

M I Acquisitions, a blank check company formed to acquire a technology, media or telecom company, announced terms for its IPO on Tuesday.

The New York, NY-based company plans to raise $50 million by offering 5 million units at a price of $10. At the midpoint of the proposed range, M I Acquisitions would command a fully diluted market value of $67 million.

M I Acquisitions was founded in 2015. It plans to list on the Nasdaq under the symbol MACQU. Chardan Capital Markets is the sole bookrunner on the deal. No pricing information was disclosed.