Mercato Partners Acquisition, a blank check company formed by Mercato Partners targeting tech or branded consumer products, filed on Wednesday with the SEC to raise up to $200 million in an initial public offering.
The Cottonwood Heights, UT-based company plans to raise $200 million by offering 20 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, Mercato Partners Acquisition would command a market value of $250 million.
The company is led by CEO and Chair Greg Warnock, a co-founder and Managing Director of private equity firm Mercato Partners. The company plans to leverage management's experience and target businesses in either the technology or branded consumer products sector that possesses the suitable characteristics to achieve attractive long-term risk adjusted returns.
Mercato Partners Acquisition was founded in 2021 and plans to list on the Nasdaq under the symbol MPRAU. The company filed confidentially on April 5, 2021. BofA Securities is the sole bookrunner on the deal.
