Marblegate Acquisition, a blank check company formed by Marblegate targeting post-restructuring businesses, filed on Thursday with the SEC to raise up to $300 million in an initial public offering.
The New York, NY-based company plans to raise $300 million by offering 30 million units at $10 per unit. Each unit contains one share of common stock and one-half of a warrant. At the proposed deal size, Marblegate Acquisition would command a market value of $412 million.
The company is led by CEO and Director Andrew Milgram, co-founder and Managing Partner of Marblegate Asset Management, CFO Mark Zoldan, CFO of Marblegate, and President and Director Paul Arrouet, Managing Partner of Marblegate. The company aims to leverage management's experience to target post-restructure businesses with the ability to develop a significant niche market position.
The company plans to list on the Nasdaq under the symbol GATEU. Marblegate Acquisition filed confidentially on July 1, 2021. Cantor Fitzgerald is the sole bookrunner on the deal.
