IPOs

Mallard Capital's SPAC Mallard Acquisition files for a $100 million IPO

Mallard Acquisition, a blank check company formed by Mallard Capital targeting an industrials business, filed on Monday with the SEC to raise up to $100 million in an initial public offering.

The Cornelius, NC-based company plans to raise $100 million by offering 10 million units at a price of $10. Each unit consists of one share of common stock and one whole warrant, exercisable at $11.50. At the proposed deal size, Mallard Acquisition would command a market value of $125 million. 

The company is led by CEO Jeffrey Leck and CFO John Kirtley, who co-founded private equity firm KLH Capital in 2005 and Mallard Capital in June 2019. The company plans on targeting businesses in the value-added distribution, industrial specialty services, and differentiated manufacturing sectors with enterprise values between $300 million and $500 million.

Mallard Acquisition was founded in 2020 and plans to list on the Nasdaq under the symbol MACUU. Chardan Capital Markets is the sole bookrunner on the deal. 

The article Mallard Capital's SPAC Mallard Acquisition files for a $100 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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