Grandview Capital Acquisition, a blank check company targeting the food industry, filed on Thursday with the SEC to raise up to $300 million in an initial public offering.
The company plans to raise $300 million by offering 30 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. Anchor investors have indicated an interest in purchasing up to $344 million worth of units in the offering (115% of the deal). At the proposed deal size, Grandview Capital Acquisition would command a market value of $385 million.
Grandview Capital Acquisition is led by Executive Chairman Rajiv Singh and CEO and Director Torrey Rossetter, Managing Partners at Grandview Capital Partners, an investment firm focused exclusively on the food industry. The company plans to leverage management's experience and target businesses operating in the five major sectors of the food industry, including food input companies, food manufacturers, food distributors, food retailers, and food service companies.
The New York, NY-based company was founded in 2020 and plans to list on the Nasdaq under the symbol GDVWU. Grandview Capital Acquisition filed confidentially on August 20, 2021. Cantor Fitzgerald is the sole bookrunner on the deal.
