SPAC Hawks Acquisition prices $200 million IPO, targeting post-reorganized or highly levered businesses

Hawks Acquisition, a blank check company formed by JC Hawks & Co. targeting post-reorganized or highly levered businesses, raised $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. Certain anchor investors had indicated on $200 million worth of units in the offering (100% of the deal).

The company is led by CEO and Chairman J. Carney Hawks, the founder and CEO of investment and advisory firm JC Hawks & Co. The company plans to target businesses that have emerged privately from bankruptcy court protection and are owned by their former creditors, or those that are privately owned and could benefit from an infusion of equity capital as part of a balance sheet recapitalization.

Hawks Acquisition plans to list on the NYSE under the symbol HWKZ.U. BTIG and Mizuho Securities acted as joint bookrunners on the deal.