BurTech Acquisition, a blank check company targeting the retail, lifestyle, hospitality, tech, and real estate markets, filed on Thursday with the SEC to raise up to $250 million.
The Washington, DC-based company plans to raise $250 million by offering 25 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, BurTech Acquisition would command a market value of $333 million.
The company is led by CEO and Chairman Shahal Khan, the founder and CEO of Burkhan World Investments, a holding company with diversified investments focusing on reinvesting gains from portfolio investments into companies that have the potential so accelerate sustainability. The company plans to target businesses that participate in the retail, lifestyle, hospitality, technology, or real estate markets, focusing on those with large addressable markets, attractive customer demographics, and brand recognition, among other characteristics.
BurTech Acquisition was founded in 2021 and plans to list on the Nasdaq under the symbol BRKHU. EF Hutton is the sole bookrunner on the deal.
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