Financials SPAC DHB Capital files for a $250 million IPO

DHB Capital, a blank check company led by former Crestview partners targeting the financial services industry, filed on Friday with the SEC to raise up to $250 million in an initial public offering.

The Glen Cove, NY-based company plans to raise $250 million by offering 25 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, DHB Capital would command a market value of $313 million.

The company is led by Co-Executive Chairmen Richard DeMartini and Robert Hurst, who are currently Vice Chairmen of Crestview Partners, and CEO and Director Alex Binderow, who is currently a Partner of Lawfty Law LLP. DeMartini, Hurst, and Binderow were all previously partners of Crestview. The company plans to target the financial and business services industry, with a focus on differentiated financial services and financial services-adjacent platforms.

DHB Capital was founded in 2020 and plans to list on the Nasdaq under the symbol DHBCU. The company filed confidentially on January 20, 2021. BofA Securities and RBC Capital Markets are the joint bookrunners on the deal.

The article Financials SPAC DHB Capital files for a $250 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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