Seaport Calibre Materials Acquisition Files for $150M IPO


Seaport Calibre Materials Acquisitionregistered to offer 15 million units, each consisting of one share of Class A common stock and one-half of one redeemable warrant. Units will be priced at $10 each and whole warrants are exercisable at $11.50.

The new SPAC intends to target companies engaged in steel, metals and metal processing.

Seaport Calibre is led by Chairman Stephen Smith, who founded Seaport Global Asset Management, a wholly-owned subsidiary of Seaport Global Holdings. CEO Jim Tumulty founded Calibre Group in 2014. Prior to that, he spent 12 years at The Seaport Group (predecessor to Seaport Holdings) and Raymond James & Associates.

Seaport Global Securities is sole book-running manager. The underwriters have an option to purchase up to an additional 2.25 million units to cover over-allotments, if any.  

Seaport Calibre has applied for a Nasdaq listing under SCMAU. Read more.

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