Houlihan Lokey and Saddle Point's SPAC Advanced Merger Partners prices $250 million IPO

Advanced Merger Partners, a blank check company formed by Houlihan Lokey and Saddle Point Management, raised $250 million by offering 25 million units at $10. Each unit consists of one share of common stock and one-sixth of a warrant, exercisable at $11.50.

The company is led by Chairman John Mavredakis, who has been Senior Managing Director and Global Head of Houlihan's Financial Sponsors Group since 1981. He is joined by CEO and Director Roy Katzovicz, who founded Saddle Point in 2018 and currently serves as its CEO, and CFO Stephen Katchur, who has been President of Blue Ribbon CFOs since 2018 and currently serves as an operations consultant to Saddle Point. Advanced Merger Partners has not chosen a specific industry or sector, but plans to leverage its relationship with both Houlihan and Saddle Point to attract and acquire prospective target companies.

Advanced Merger Partners plans to list on the NYSE under the symbol AMPI.U. Goldman Sachs acted as a lead manager on the deal.