Haymaker Acquisition III, the third consumer-focused blank check company led by the former CEO of Starwood Hotels, filed on Friday with the SEC to raise up to $300 million in an initial public offering.
The New York, NY-based company plans to raise $300 million by offering 30 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50. At the proposed deal size, Haymaker Acquisition III would command a market value of $375 million.
The company is led by CEO and Chairman Steven Heyer, who previously served as CEO of Starwood Hotels & Resorts Worldwide and COO of The Coca-Cola Company, and President and Director Andrew Heyer, the founder and CEO of consumer-focused private equity fund manager Mistral Equity Partners. The company plans to target a business in the consumer and consumer-related products and services industries.
Management's previous SPACs include Haymaker Acquisition II, which went public in June 2019 and completed its acquisition of ARKO Holdings (ARKO; -1% from $10 offer price) in December 2020, and Haymaker Acquisition, which went public in October 2017 and completed its merger with OneSpaWorld Holdings (OSW; -9%) in March 2019.
Haymaker Acquisition III was founded in 2020 and plans to list on the Nasdaq under the symbol HYACU. Citi and Cantor Fitzgerald are the joint bookrunners on the deal.
The article Consumer SPAC Haymaker Acquisition III files for a $300 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.