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Blank check company Quinpario Acquisition Corp files and sets terms for $150 million IPO

By: Renaissance Capital
Posted: 6/19/2013 9:03:00 AM
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Quinpario Acquisition Corp, a blank check company focused on acquiring businesses in the specialty chemicals industry, announced terms for its IPO on Wednesday. Quinpario is led by Jeffry Quinn, former CEO of Solutia, a publicly-traded specialty chemical company; Quinn joined Solutia shortly after it had filed for bankruptcy in 2004 and served as CEO until the company was acquired by Eastman Chemical Company for $4.7 billion in 2012.

The St. Louis, MO-based company plans to raise $150 million by offering 15 million units at $10 per unit. Quinpario Acquisition Corp, which was founded in May 2013, plans to list on the NASDAQ and has yet to announce a ticker. PrinceRidge is the sole bookrunner on the deal.