Banyan Acquisition, a new SPAC focused on food service companies, in an amended S-1 filing disclosed it will now offer 20 million units, down from the 30 million initially planned when the company registered in August.
A unit now consists of one share of Class A common stock and one- half of a warrant.
Banyan is led by Chairman Jerry Hyman, who is also chairman of TriMark USA and previously served as CEO of TriMark USA. CEO and Director Keith Jaffee has served as chairman of Middleton Partners since 2010. Previously he was chairman and CEO of Focus Products, a collection of brands and businesses in the housewares, foodservice, and hospitality industry.
BTIG is lone bookrunner. Banyan intends to apply for a listing on the NYSE under BYN.U. Read more.
