RAI Acquisition, a newly incorporated special purpose acquisition corporation formed for the purpose of acquiring one or more businesses, has filed a registration statement with the Securities and Exchange Commission for an initial public offering of units of the firm, seeking to raise $250 million.
RAI Acquisition is proposing to offer to sell 25 million units, consisting of one share of common stock and one warrant to purchase one share of common stock per unit, at an offering price of $10 per unit.
The net proceeds of the offering will be held in trust pending the completion of an acquisition. The timing of the offering is subject to market conditions, regulatory approvals and certain other conditions. JP Morgan Securities will act as the underwriter for the offer.