Brand Velocity Acquisition, a blank check company formed by Brand Velocity Partners targeting consumer-facing businesses in North America, filed on Monday with the SEC to raise up to $200 million in an initial public offering.
The Larchmont, NY-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-third of a warrant, exercisable at $11.50. At the proposed deal size, Brand Velocity Acquisition would command a market value of $250 million.
The company is led by CEO and Chairman Stephen Lebowitz, President, CMO, and Director Drew Sheinman, and CFO, COO, and Director Austin Ramos, all of whom are founding partners of private equity firm Brand Velocity Partners. The SPAC plans to target consumer-facing businesses in North America.
Brand Velocity Acquisition was founded in 2021. The company has not selected a listing exchange or symbol yet (RC ticker: BVAU.RC). Credit Suisse is the sole bookrunner on the deal.
