SPAC Everest Consolidator Acquisition prices $150 million IPO, targeting wealth management

Everest Consolidator Acquisition, a blank check company targeting the wealth management industry, raised $150 million by offering 15 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50.

The company is led by CEO and Chairman Adam Dooley, the founder and CEO of private equity firm Belay International and former President of PREP Securities, a broker-dealer subsidiary of the Prep Property Group. The company plans to target the wealth management industry, including independent financial advisory providers as well as wealth management-focused technology companies (Wealthtech).

Everest Consolidator Acquisition plans to list on the NYSE under the symbol MNTN.U. BofA Securities acted as sole bookrunner on the deal.