Ventoux CCM Acquisition in a filing said it completed the IPO of 15 million units priced at $10 each, generating gross proceeds of $150 million. The underwriters exercised their over-allotment option in full to purchase 2.25 million units.
Simultaneously with the closing of the IPO, the SPAC closed a private placement with initial stockholders of the company for 6 million warrants, generating proceeds of $6 million.
Focused on the hospitality industry, the SPAC is led by CEO and Chairman Edward Scheetz, founder and former CEO of Chelsea Hotels. Read more.
