Admiral Acquisition Reportedly Looking to Raise $500M in London IPO

Serial dealmaker Martin E. Franklin, who warned of excesses in blank-check companies last year, is raising money for a new SPAC in the UK, Bloomberg reports. 

Admiral Acquisition is selling units at $10 each on the London Stock Exchange, according to terms seen by Bloomberg. The sponsor is Mariposa Capital, a Miami-based family office owned by Franklin. 

Market Screener pegged the float at $500 million. Rumors that Franklin would launch a new blank-check vehicle on the London exchange had been circulating since last July. Read more.

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