SPAC AF Acquisition prices $200 million IPO

AF Acquisition, a blank check company targeting the food and beverage, wellness, beauty, pet, and personal care sectors, raised $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.

AF Acquisition is a partnership between AF Ventures, Scharf Brothers, and Mistral Equity Partners. The company is led by Chairman and President Andrew Scharf, who is a Principal and CIO of Scharf Brothers, and CEO and Director Jordan Gaspar, the founder and Managing Partner of AF Ventures. The company plans to leverage its management team's experience in the better-for-you consumer packaged goods industry and target the food and beverage, health and wellness, beauty, pet, and personal care sectors in the US.

AF Acquisition plans to list on the Nasdaq under the symbol AFAQU. Cowen acted as a lead manager on the deal.