Cambridge Capital Acquisition, a blank check company formed to acquire businesses in the transportation and logistics industry, announced terms for its IPO on Thursday. The West Palm Beach, FL-based company plans to raise $70 million by offering 7.0 million shares at $10 per share. At the midpoint of the proposed range, Cambridge Capital Acquisition would command a market value of $90 million.
Cambridge Capital Acquisition, which was founded in 2013, plans to list on the NASDAQ but has yet to announce a ticker. EarlyBird Capital is the sole bookrunner on the deal.
