EuroSPAC Acquisition, a blank check company led by the CEO of shipping company Euroseas targeting the industrials sector, filed on Tuesday with the SEC to raise up to $125 million in an initial public offering.
The company plans to raise $125 million by offering 12.5 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.
EuroSPAC Acquisition is led by CEO and Chairman Aristides Pittas, the longtime CEO of containership owner Euroseas (Nasdaq: ESEA) and its spin-offs EuroDry (Nasdaq: EDRY) and Euroholdings (Nasdaq: EHLD). He is joined by CFO and Director Anastasios Aslidis, the CFO of Euroseas and EuroDry.
The SPAC plans to target businesses providing technology, equipment, and services to the maritime, transportation, energy transition, and industrial sectors, at an enterprise value of approximately $500 million to $2 billion.
The Marousi, Greece-based company was founded in 2026. It plans to list on the Nasdaq, but has not yet disclosed a ticker symbol (RC Ticker: ESPCU.RC). Cohen & Company Securities is the sole bookrunner on the deal.
