BCC Investment, a blank check company formed by Bain Capital Credit, withdrew its plans for an initial public offering on Tuesday. It had filed in March 2021 to raise $300 million by offering 30 million units at $10, with each unit most recently containing one share of common stock and one-fourth of a warrant, exercisable at $11.50.
The company was set to be led by Chairman Jeffrey Robinson, who currently serves as Managing Director, Co-Head of the Distressed and Special Situations Group, and is the Portfolio Manager of the Distressed and Special Situations Funds at Bain Capital Credit. He was going to be joined by CEO Olof Bergqvist and CFO Sally Dornaus, who serve as Managing Directors at Bain Capital Credit. BCC Investment intended to pursue an initial business combination with a scaled business featuring an established business model, a defensible market position, and sustainable long-term growth drivers.
The Boston, MA-based company was founded in 2020 and had planned to list on the NYSE under the symbol BCIC.U. Goldman Sachs and Evercore ISI were set to be the joint bookrunners on the deal.
