BTECH, a blank check company targeting oil, gas, and energy, filed on Thursday with the SEC to raise up to $200 million in an initial public offering.
The company plans to raise $200 million by offering 20 million units at $10. Each unit consists of one share of common stock, and one-half of one warrant to purchase a share, exercisable at $11.50.
BTECH is led by CEO Farbod Pasha Asgharzadeh, who is the Director of the Marine Contracting Division at ARCO Turnkey Solutions and former Marine Projects Director at Dutco Construction. He is joined by CFO James DeAngelis, who is a principal at Meteora and former Director of Finance/Digital Transformation at Kroll.
The SPAC intends to target the oil and gas sector, including upstream (exploration and production), midstream (transportation, storage, gathering, and logistics), and downstream (refining, processing, marketing, and distribution) activities. This includes conventional and unconventional oil and natural gas assets, pipelines, storage facilities, refineries, and related infrastructure.
The New York, NY-based company was founded in 2025. It plans to list on the Nasdaq under the symbol BTECHU. BTECH filed confidentially on October 15, 2025. D. Boral Capital is the sole bookrunner on the deal.
