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Blank check company 1347 Capital files and sets terms for $40 million IPO

By: Renaissance Capital
Posted: 5/5/2014 6:03:00 PM
Referenced Stocks: TFSCU

1347 Capital, a blank check company formed by a team from Fund Management Group, filed and announced terms for its IPO on Monday. The Itasca, IL-based company plans to raise $40 million by offering 4.0 million shares at a price $10. At the proposed price, it would command a fully diluted market value of $42 million. 1347 Capital, which was founded in 2014, plans to list on the NASDAQ under the symbol TFSCU. EarlyBird Capital is the sole bookrunner on the deal.