Oil and gas SPAC Liberty Resources Acquisition files for a $100 million IPO

Liberty Resources Acquisition, a blank check company targeting the oil and gas sectors, filed on Friday with the SEC to raise up to $100 million.

The Miami, FL-based company plans to raise $100 million by offering 10 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, Liberty Resources Acquisition would command a market value of $129 million.

The company is led by CEO and Chairman Maznah Binti Abdul Jalil, who most recently served as the Executive Director and CFO of Sona Petroleum Berhad. The company plans to leverage management's experience and target the oil and gas sectors, focusing on businesses with enterprise values between $200 million and $2 billion.

Liberty Resources Acquisition was founded in 2021 and plans to list on the Nasdaq under the symbol LBTYU. EF Hutton is the sole bookrunner on the deal.