New SPAC bleuacacia Ltd. registered with the SEC to offer 30 million units at $10 each. A unit consists of one Class A ordinary share and one-third of one redeemable warrant. Whole warrants will be exercisable at $11.50.
Credit Suisse and Citigroup are joint book-running managers for the offering. The underwriters have a 45-day option to purchase up to an additional 4,500,000 units to cover over-allotments, if any.
The SPAC said it intends “to pursue acquisitions of global high-growth premium consumer-facing brands that have a powerful emotional engagement with millennial and Gen-Z consumers.”
Co-CEO Jide Zeitlin is the former chairman and CEO of Tapestry, the S&P 500 and Fortune 500 luxury global retailer that is the parent company for the Coach, Kate Spade, and Stuart Weitzman brands. Co-CEO Lew Frankfort is the former chairman and CEO of luxury retailer Coach, later renamed Tapestry.
The SPAC has applied to list on the NYSE under BLEU.U. Read more.
