Millstreet Capital Acquisition registered to offer 12.5 million units at $10 each. A unit consists of one share and one-half of one redeemable warrant; whole warrants exercisable at $11.50.
The new SPAC plans to focus on distressed businesses.
Co-CEOs Craig Kelleher and Brian Connolly co-founded Millstreet Capital in 2010.
Seaport Global Securities and Imperial Capital are managing the offering. The underwiters have a 45-day option to purchase an additional 1.875 million units to cover over-allotments, if any.
Millstreet Capital has applied to list on the Nasdaq under MLSTU. Read more.
