Markets

Blank check for former Chesapeake CEO: Avondale Acquisition sets terms for $200 million IPO

A generic image of a person holding a pen and paper
Credit: Shutterstock photo

Avondale Acquisition, a oil and gas SPAC formed by the former CEO of Chesapeake Energy, announced terms for its IPO on Tuesday.

The Oklahoma City, OK-based company plans to raise $200 million by offering 20 million units at a price of $10. At that price, Avondale Acquisition would command a market value of $250 million.

Chairman Aubrey McClendon previously served as co-founder and CEO of Chesapeake Energy ( CHK ) from 1989 to 2013.

Avondale Acquisition, which was formed in March 2015, plans to list its units on the NASDAQ under the symbol AACOU. Avondale Acquisition initially filed confidentially on March 3, 2015. Maxim Group and Ladenburg Thalmann are the joint bookrunners on the deal. No timing was disclosed.

The article Blank check for former Chesapeake CEO: Avondale Acquisition sets terms for $200 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital, the Renaissance IPO ETF (symbol: IPO) or the Global IPO Fund (symbol: IPOSX) , may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

IPOs

Latest Markets Videos

    Renaissance Capital

    Renaissance Capital is the global leader in providing pre-IPO institutional research and management of IPO-focused investment products.

    Learn More