SPAC Bluerock Acquisition prices $150 million IPO, led by executives from asset manager Bluerock
Bluerock Acquisition, a blank check company led by executives from alternative asset manager Bluerock, raised $150 million by offering 15 million units at $10.00. Each unit consists of one share of common stock and one-third of one warrant, exercisable at $11.50.
Company Overview
Bluerock Acquisition Corp. is a blank check company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company may pursue an initial business combination in any business or industry.
Bluerock Acquisition is led by CEO and Chairman Ramin Kamfar, the founder, CEO, and Chairman of alternative asset manager Bluerock, with $120 billion real estate and capital markets experience across its principals. He is joined by CFO Christopher Vohs, the CAO of Bluerock.
The SPAC plans to target companies that are robust growth prospects with recurring and predictable revenues, experienced management teams, and comparable public peers, among other characteristics. While it is not constrained to any specific industry, the company’s management team has extensive experience across investment banking, financial institutions, fintech, asset management, private credit, private wealth, retail, biotech, capital markets, and real estate.
Listing Overview
Bluerock Acquisition plans to list on the Nasdaq under the symbol BLRKU.Cantor Fitzgerald & Co. is acting as the sole book-running manager for the offering. Brookline Capital Markets, a division of Arcadia Securities, LLC, and Clear Street LLC are acting as co-managers for the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 2,250,000 units at the initial public offering price to cover over-allotments, if any.