Heartland Media Acquisition in an amended S-1 lowered its planned IPO to 17.5 million units, down from the 20 million initially registered with the SEC in November.
A unit still consists of one Class A share and one-half of a warrant.
Heartland Media is targeting the media, entertainment and sports sectors.
CEO Robert Prather Jr. and a partner acquired control of Gray, a public company, in late 1993. During his tenure, he helped grow the market capitalization of Gray from approximately $52 million to more than $400 million.
BofA Securities and Moelis are Joint book runners for the offering.
SPAC management in the filing said Heartland Media has been approved to list on the NYSE under HMA.U. Read more.
