Chavant Capital Acquisition, a blank check company targeting advanced manufacturing technology, filed on Monday with the SEC to raise up to $100 million in an initial public offering.
The New York, NY-based company plans to raise $100 million by offering 10 million units at $10 per unit. Each unit contains one share of common stock and three-fourths of a warrant, exercisable at $11.50. At the proposed deal size, Chavant Capital Acquisition would command a market value of $125 million.
The company is led by CEO and Director Jiong Ma, Venture Partner at Braemar Energy Ventures, CFO Michael Lee, Managing Member of consultancy New Highland, and Chairman Andre-Jaques Auberton-Herve, the founder, Chairman, and former CEO of Soitec (EPA: SOIF). The company aims to leverage management's experience to target businesses in the advanced manufacturing and advanced materials technology sectors with enterprise values of $600 million or more.
The company was founded in 2021 and plans to list on the Nasdaq under the symbol CLAYU. Roth Capital, and Craig-Hallum Capital Group are the joint bookrunners on the deal. No pricing terms were disclosed.
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