Space-focused SPAC Aurvandil Acquisition files for a $250 million IPO

Aurvandil Acquisition, a blank check company targeting the space industry, filed on Monday with the SEC to raise up to $250 million in an initial public offering.

The Irvine, CA-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-half of a warrant, exercisable at $11.50. At the proposed deal size, Aurvandil Acquisition will command a market value of $313 million.

The company is led by CEO and Director Robert Moody II, who currently serves as a Senior Partner at tech and M&A consulting firm Kiios. He is joined by CFO J.R. Sandell, who is the Principal and Owner of Sandell Consulting and recently served as SVP and CFO of Mid-Tier Mortgage Bank. Aurvandil Acquisition intends to focus on companies with an aggregate pre-investment enterprise value of approximately $600 million to $1 billion in the space industry.

Aurvandil Acquisition was founded in 2021 and plans to list on the Nasdaq under the symbol AURV.U. B. Riley FBR is the sole bookrunner on the deal.