IPOs

Boston Omaha's SPAC Yellowstone Acquisition lowers deal size by 25% ahead of $150 million IPO

Yellowstone Acquisition, a blank check company formed by Boston Omaha Corp. targeting the financial and real estate sectors, lowered the proposed deal size for its upcoming IPO on Friday.

The Omaha, NE-based company now plans to raise $150 million by offering 15 million units at $10. The company had previously filed to offer 20 million units at $10. Each unit still consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the revised deal size, Yellowstone Acquisition will raise -25% less in proceeds than previously anticipated.

The company is led by Co-CEOs and Co-Chairmen Adam Peterson and Alex Rozek, who both serve as the Co-Chairs and Co-CEOs for Boston Omaha Corp (Nasdaq: BOMN). The SPAC plans on targeting a company in the US with operations in the homebuilding, manufacturing related to homebuilding, financial services, and the commercial real estate industries.

Yellowstone Acquisition was founded in 2020 and plans to list on the Nasdaq under the symbol YSACU. Wells Fargo Securities is the sole bookrunner on the deal.

The article Boston Omaha's SPAC Yellowstone Acquisition lowers deal size by 25% ahead of $150 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's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts 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.

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