Blank check company Acropolis Infrastructure Acquisition Corp. is looking to raise US$300 million for its initial public offering. The company goes public today on the New York Stock Exchange.
The offering consists of 30.0 million company units selling at US$10.00 per unit. Each unit consists of one Class A share and one-third of a purchase warrant. Each whole warrant is exercisable to purchase one whole Class A share at US$11.50 per share. The Class A shares and the warrants will be trading on the New York-based big board under symbols “ACRO” and “ACRO WS”, respectively.
As a blank check company, Acropolis Infrastructure Acquisition was formed for the purpose of effecting a merger, share exchange, asset acquisition, or reorganization of similar businesses. The company, an affiliate of Apollo Global Management (NYSE: APO), is focused on the infrastructure industry and related sectors.
The underwriters were granted a 30-day option to purchase an additional 4.5 million units at the same IPO price, potentially bringing the total proceeds to US$345.0 million. The US division of Credit Suisse Securities leads the syndicate of underwriters managing the proposed offering.
Information for this briefing was found via Sedar and Acropolis Infrastructure Acquisition. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.