Serial dealmaker Martin E. Franklin, who warned of excesses in blank-check companies last year, is raising money for a new SPAC in the UK, Bloomberg reports.
Admiral Acquisition is selling units at $10 each on the london Stock Exchange, according to terms seen by Bloomberg. The sponsor is Mariposa Capital, a Miami-based family office owned by Franklin.
Market Screener pegged the float at $500 million. Rumors that Franklin would launch a new blank-check vehicle on the London exchange had been circulating since last July. Read more.
Source: Admiral Acquisition Reportedly Looking to Raise 0M in London IPO