Blank check company BSP Acquisition files for a $100 million IPO

BSP Acquisition, blank check company formed by Sanford Miller to acquire a US firm in the travel industry, filed and set terms for an initial public offering on on Monday. The Daytona Beach, FL-based company plans to raise up to $100 million by offering 10 million units at a price of $10. At that price, the company would command a fully diluted market value of $139 million. Primary shareholder and CEO Sandy Miller (26% post-IPO stake) has previously worked in executive positions at rental car corporations, including Budget.

BSP Acquisition was formed in 2014 and plans to list on the NASDAQ under the symbol BSPCU. It initially filed confidentially on February 27, 2014. Cantor Fitzgerald is the sole bookrunner on the deal. Its pricing date has not been disclosed.