The New York, NY-based company plans to raise $200 million by offering 20 million units at $10. Each unit consist of one share of common stock and one-third of a warrant, exercisable at $11.50. Millennium Management and Blackrock have each indicated interest in purchasing 10% of the units in the offering. At the proposed deal size, Siddhi Acquisition will command a market value of $250 million.
The company is led by Chairman Brian Finn, who currently serves as Chairman of Star Mountain Capital and Covr Financial Technologies. He is joined by Co-CEOs Melissa Facchina and Steven Finn, who co-founded Siddhi Capital in 2020. Siddhi Acquisition intends to concentrate its efforts in identifying high growth businesses within the food and beverage industry.