Murphy Canyon Acquisition Files for $150M IPO


Murphy Canyon Acquisition registered to offer 15 million units priced at $10 each. The SPAC intends to raise capital for the acquisition of a business in the real estate industry, including construction, homebuilding, real estate owners and operators, arrangers of financing, insurance, and other services for real estate, and adjacent businesses and technologies targeting the real estate space, or proptech.

A unit consists of one share and three-quarters of a warrant. The sponsor has agreed to purchase up to approximately $8.29 million in warrants. Murphy Canyon’s sponsor also holds 4.31 million sharss of Class B stock.

CEO, President and Chairman Jack Heilbron has served as a director, CEO and president of Presidio Property Trust. Heilbron also was chairman, CEO and president of NetREIT Dubose, and has served as CEO and/or president of NetREIT Advisors, Dubose Advisors and NTR Property Management.

A.G.P. is sole book-running manager. Benchmark is co-manager of the offering.

The SPAC has applied to list on the Nasdaq under the symbol MURFU. Read more.

Related Posts