Ackrell SPAC Partners I, a SPAC targeting branded consumer goods, files for a $100 million IPO

Ackrell SPAC Partners I, a blank check company targeting a branded fast-moving consumer goods business, filed on Tuesday with the SEC to raise up to $100 million in an initial public offering.

The Claymont, DE-based company plans to raise $100 million by offering 10 million units at $10. Each unit contains subunit and one-half of a warrant, exercisable at $11.50. Each subunit contains one share of common stock and one-half of a warrant. At the proposed deal size, Ackrell SPAC Partners I would command a market value of $133 million.

The company is led by Chairman Michael Ackrell, founder and CEO of Ackrell Capital; Vice Chairman Shannon Soqui, co-founder and CEO of Next Frontier Brands; CEO nominee Jason Roth, co-founder and Chief Strategy Officer of Next Frontier Brands; and COO nominee Stephen Cannon, who serves as President of Everest Partners and has experience from several other SPACs.

Ackrell SPAC Partners I plans to target a branded fast-moving consumer goods business, primarily focusing on the alcoholic and non-alcoholic beverage and wellness sectors, as well as hemp-based branded consumer goods.

Ackrell SPAC Partners I was founded in 2018 and plans to list on the under the symbol ACKIU. The company filed confidentially on October 17, 2019. is the sole bookrunner on the deal.

Source: Renaissance Capital- Ackrell SPAC Partners I, a SPAC targeting branded consumer goods, files for a $100 million IPO