Oil and gas-focused SPAC Dorchester Capital Acquisition registered to offer 15 million units priced at $10 each. A unit consists of one share and one-half of a warrant. Whole warrants would be exercisable at $11.50.
The SPAC’s goal is to acquire an operating business in the energy industry in North America, primarily targeting the U.S. onshore upstream oil and gas sector.
CEO and Director Brian P. Shannon since October 2020 has been chief executive of DEM, an affiliate of the SPAC’s sponsor, which provides accounting, asset evaluation, corporate restructuring, engineering, financial reporting, reserve assessment and other related asset management services to the upstream oil and gas industry. Prior to joining DEM, from September 2015 through October 2020, Shannon served as a founder, CEO and president of Black Falcon Energy.
EarlyBirdCapital and Stephens are joint book-running managers of the offering.
Dorchester Capital has applied to list on the NYSE under the symbol DSPK.U. Read more.
