SPAC Minority Equality Opportunities Acquisition prices upsized $110 million IPO, targeting minority-owned businesses

Minority Equality Opportunities Acquisition, a blank check company targeting minority owner-controlled businesses, raised $110 million by offering 11 million units at $10. The SPAC upsized its offering by 10% compared to the original filing. Each unit contains one share of common stock and one whole warrant, exercisable at $11.50.

Minority Equality Opportunity Acquisition is led by CEO, President, and Chairman Shawn Rochester, CEO of Good Steward, founder of PHD Enterprises, and Vice Chairman of Highland Poe, and CFO, Treasurer, and Director Robin Watkins, a Manager in the Advisory Consulting Practice at Deloitte.

The company aims to target Minority Controlled Businesses, defined as businesses in which majority owners own at least 25% of the economic equity or a majority of the voting rights. The company will focus its efforts on businesses with enterprise values between $250 million and $500 million. 

The Waxahachie, TX-based company plans to list on the Nasdaq under the symbol MEOAU. Maxim Group LLC acted as sole bookrunner on the deal.