BharCap Acquisition, a blank check company formed by BharCap Partners targeting financial services and fintech, filed on Monday with the SEC to raise up to $250 million in an initial public offering.
The Stamford, CT-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, BharCap Acquisition will command a market value of $313 million.
The company is led by CEO and Chairman Bharath Srikrishnan and CFO Ethan Wang, who recently co-founded private equity firm BharCap Partners where they serve as Managing Partners. BharCap Acquisition seeks to identify trends that are creating significant disruption and/or high growth in the Financial Services and FinTech sectors, specifically targeting companies with market values between $500 million and $1.5 billion.
BharCap Acquisition was founded in 2021. The company has not yet chosen an exchange or a ticker (RC ticker: BCAU.RC). J.P. Morgan is the sole bookrunner on the deal.
