Blueport Acquisition, a blank check company led by a co-founder of law firm Ortoli Rosenstadt LLP, lowered the proposed deal size for its upcoming IPO on Wednesday.
The New York, NY-based company now plans to raise $50 million by offering 5 million units at a price of $10. The company had previously filed to offer 6.9 million units. Each unit still consists of one share and one right to receive one-sixth of a share upon an initial business combination. At the revised terms, Blueport Acquisition will raise 28% less in proceeds than previously anticipated.
Blueport Acquisition is led by CEO and Chairman William Rosenstadt, who is a founding member and the managing partner of international law firm Ortoli Rosenstadt LLP. While it has not selected a target industry or geography, the SPAC plans to target businesses with compelling economics, potential for high recurring revenue, and defensible market position, among other characteristics.
Blueport Acquisition was founded in 2025 and plans to list on the Nasdaq under the symbol BPAC. A.G.P. is the sole bookrunner on the deal.
