SPAC BCC Investment, formed by Bain Capital Credit, files for a $300 million IPO

BCC Investment, a blank check company formed by Bain Capital Credit, filed on Thursday with the SEC to raise up to $300 million in an initial public offering.

The Boston, MA-based company plans to raise $300 million by offering 30 million units at $10. Each unit will consist of one share of common stock and one-fifth of a warrant, exercisable at $11.50. At the proposed deal size, BCC Investment will command a market value of $375 million. 

The company is led by Chairman Jeffrey Robinson, who currently serves as Managing Director, Head of the Distressed and Special Situations Group, and is the Portfolio Manager of the Distressed and Special Situations Funds at Bain Capital Credit. He is joined by CEO Olof Bergqvist and CFO Sally Dornaus, who serve as Managing Directors at Bain Capital Credit. BCC Investment intends to pursue an initial business combination with a scaled business featuring an established business model, a defensible market position, and sustainable long-term growth drivers, which may benefit from entering the public equity markets and from ongoing partnership with a well-established professional investor.

BCC Investment was founded in 2020 and plans to list on the NYSE under the symbol BCIC.U. It filed confidentially on February 10, 2021. Goldman Sachs and Evercore ISI are the joint bookrunners on the deal.

The article SPAC BCC Investment, formed by Bain Capital Credit, 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.

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