SPAC Silverman Acquisition I files for a $250 million IPO, targeting consumer and business services

Silverman Acquisition I, a blank check company targeting the broader consumer and business services sectors, filed on Friday 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, Silverman Acquisition I will command a market value of $313 million.

The company is led by CEO and Director Henry Silverman, who currently serves as Managing Member of Athos Capital Partners and 54 Madison Partners. He is joined by CFO and Director Gail Mandel, who has served as a Managing Director at Focused Point Ventures since 2019 and previously was President and CEO of Wyndham Destination Network from 2014 to 2018. Silverman Acquisition I is focused on companies with large addressable markets and strong growth profiles, primarily in the travel services, food and beverage, residential and commercial real estate services, automotive and vehicle services, and the broader financial services and insurance sectors.

Silverman Acquisition I was founded in 2021 and plans to list on the NYSE under the symbol SACQ.U. It filed confidentially on February 26, 2021. J.P. Morgan is the sole bookrunner on the deal.