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Technology SPAC Aeon Acquisition files for a $125 million IPO

January 25, 2021

Aeon Acquisition, a blank check company formed by The Aeon Group targeting technology, filed on Monday with the SEC to raise up to $125 million in an initial public offering.

The Middletown, NJ-based company plans to raise $125 million by offering 12.5 million units at $10. Each unit will consist of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, Aeon Acquisition would command a market value of $158 million.

The company is led by CEO and Chairman Demetrios Mallios, who founded investment firm The Aeon Group and currently serves as CEO and Chairman. He is joined by CFO Valentino La Rosa, who has served as President of Aster Brands since 2019, and also founded Eleven Eleven Productions in 2006 and currently serves as CEO. Aeon Acquisition intends to target established, technology-focused businesses that have an aggregate enterprise value of approximately $1 billion to $1.5 billion.

Aeon Acquisition was founded in 2020 and plans to list on the Nasdaq under the symbol AACPU. It filed confidentially on October 9, 2020. Maxim Group LLC is the sole bookrunner on the deal.