Banner Acquisition announced its intent to create via mergers with multiple targets a new, publicly traded platform focused on the property services sector.
Banner has entered into multiple letters of intent with target companies in the sector and intends to continue seeking additional acquisition targets that provide services in areas such as cleaning, HVAC, plumbing, landscaping, pest control, residential solar and energy management, restoration, facility management and other related businesses.
With LOIs in hand, the SPAC is now entitled to an automatic deadline extension of three months — until June 10. The letters of intent are non-binding.
Banner raised $150 million in a September 2021 IPO and at that time was focused on companies in healthcare, education and business services. Read more.
