Calm Seas Acquisition, a blank check company targeting the oil and gas, offshore drilling, and maritime and shipping sectors, filed on Monday with the SEC to raise up to $300 million in an initial public offering.
The company plans to raise $300 million by offering 30 million units at $10. Each unit consists of one share of common stock, and one-third of one warrant to purchase a share, exercisable at $11.50.
Calm Seas Acquisition is led by CEO Procter Hug IV, the CEO of investment firm Pilgrim Global Advisors, CFO Michael Marietta, the General Counsel of Pilgrim Global Advisors, and Chairman Charles Flynn, the former Commanding General of U.S. Army Pacific. The SPAC plans to target businesses in the oil and gas, offshore drilling, and maritime and shipping sectors.
The Reno, NV-based company was founded in 2026. It plans to list on the NYSE under the symbol CSEA.U. Cohen & Company Securities is the sole bookrunner on the deal.
