MDH Acquisition, a blank check company formed by McLarty Diversified Holdings targeting businesses in the Heartland, filed on Thursday with the SEC to raise up to $200 million in an initial public offering.
The Southlake, TX-based company plans to raise $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, MDH Acquisition would command a market value of $250 million.
The company is led by Executive Chairman Franklin McLarty, who is the co-founder and CEO of investment firm McLarty Diversified Holdings; Vice Chairman Jim Wilkinson, the founder and CEO of international communications firm TrailRunner International; CEO Donald "Beau" Blair, the COO of McLarty Diversified Holdings and co-founder of McLarty Capital Partners' Small Business Fund I; and CFO Brent Whittington, the owner of premium bicycle manufacturing company Moots Cycles.
MDH Acquisition plans to leverage its management team's background in transportation and logistics, telecommunications, financial services, and professional services, specifically focusing on businesses in the Heartland with aggregate enterprise values of $600 million or greater.
MDH Acquisition was founded in 2020 and plans to list on the NYSE under the symbol MDH.U. The company filed confidentially on September 4, 2020. Stifel and Oppenheimer & Co. are the joint bookrunners on the deal.
