Blueport Acquisition, a blank check company led by a co-founder of law firm Ortoli Rosenstadt LLP, raised $50 million by offering 5 million units at $10. Each unit consists of one share and one right to receive one-sixth of a share upon an initial business combination.
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 plans to list on the Nasdaq under the symbol BPACU. A.G.P. acted as sole bookrunner on the deal.
