Arowana, an Australian blank check company focused on the energy and education industries, filed and set terms for an initial public offering on Friday. The North Sydney, Australia-based company plans to raise $60 million by offering 6.0 million units at $10 per unit. At that price, Arowana would command a market value of $78 million.
The company is led by Kevin Chin, who founded sponsor Arowana & Co. in 2007. Arowana is the parent company of business development company Arowana International (ASX: AWN), investment firm Arowana Partners and venture firm Arowana Capital.
The North Sydney, Australia-based company, which was founded in 2014, plans to list on the NASDAQ. The company has not yet selected a symbol. EarlyBird Capital, Inc. is the sole bookrunner on the deal. No pricing terms were disclosed.
