Blue Room Acquisition Scraps $200M IPO

Blue Room Acquisition in an SEC filing said it is withdrawing a planned offering of 20 million units at $10 each. The SPAC registered the offering barely a month ago and it was declared effective by the SEC on Dec. 26.

Blue Room had said it would target companies in the financial sector.

Chairman and CEO Erick Deneb Flores Garcia started his career as a financial advisor, trading bonds, equity and derivatives in U.S. and European markets for Actinver Casa de Bolsa, a brokerage firm in Mexico, in October 2002. From February 2006 to September 2010, Flores served in HSBC Private Bank, trading securities in the U.S. and emerging markets.

Maxim Group had been tapped as the sole bookrunner. Read more.

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