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Real estate-focused SPAC Cain Acquisition files for a $250 million IPO

March 10, 2021
CAINU

Cain Acquisition, a blank check company formed by Cain International targeting entertainment and real estate, filed on Wednesday with the SEC to raise up to $250 million in an initial public offering.

The New York, NY-based company plans to raise $250 million by offering 25 million units at $10. Each unit will consist of one share of common stock and one-third of a warrant, exercisable at $11.50. At the proposed deal size, Cain Acquisition will command a market value of $313 million.

The company is led by CEO, CFO, and Chairman Jonathan Goldstein, who is the Founder and CEO of Cain International and previously served as Head of European Real Estate and Direct Investments at Guggenheim. Cain Acquisition intends to target a prospective business within experiential hospitality, location-based entertainment, and real estate, with a particular focus on businesses that have a strong brand and service offerings anchored in physical asset development and management.

Cain Acquisition was founded in 2020 and plans to list on the Nasdaq under the symbol CAINU. Credit Suisse is the sole bookrunner on the deal.