Evergreen consumer fund SPAC Able Brands files $ 225 million IPO
Able Brands, a blank check firm formed by Able Partners targeting consumer-oriented ‘best for you’ companies, filed with the SEC on Friday to raise up to $ 225 million in initial appeal public savings.
The New York, NY-based company plans to raise $ 225 million by offering 22.5 million units at $ 10. Each unit consists of one common share and one third of a warrant, exercisable at $ 11.50. At the size of the proposed deal, Able Brands would have a market value of $ 281 million.
The company is led by President Lisa Blau and CEO and Director Amanda Eilian, who are both founding partners of Evergreen Able Partners consumer fund. Able Brands plans to target consumer-facing companies that offer a unique value proposition to address wellness through better-for-you products and services, focusing on themes such as intentional wellness and accessible nutrition, among others.
Able Brands was founded in 2021 and plans to be listed on Nasdaq under the symbol ABCOU. Goldman Sachs is the sole bookrunner in the transaction.
The article Evergreen consumer fund SPAC Able Brands files $ 225 million IPO originally appeared on the renaissancecapital.com website of IPO investment manager Renaissance Capital.
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