Oil and gas-focused SPAC Dorchester Capital Acquisition in a letter to the SEC today said it is withdrawing an offering of 15 million units originally registered in June.
The SPAC’s goal was 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.
Dorchester Capital had applied for a NYSE listing with EarlyBirdCapital and Stephens planning to serve as joint book-running managers. Read more.
