Rotor Acquisition, a blank check company led by former dealmakers at Credit Suisse and BofA targeting the industrial and consumer sectors, raised $240 million by offering 24 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. The SPAC originally filed to raise $200 million.
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The New York, NY-based company is led by CEO and Director Brian Finn, currently an Investment Partner at Nyca Partners and former Head of Alternative Investments at Credit Suisse and CEO of its Asset Management Finance Corp. The SPAC's Chairman Stefan Selig is the founder and Managing Partner of BridgePark Advisors, and formerly served as BAML's Executive Vice Chairman of Global Corporate and Investment Banking.
Rotor Acquisition plans to list on the NYSE under the symbol ROT.U. Credit Suisse acted as lead manager on the deal.
The article Industrial and consumer SPAC Rotor Acquisition prices upsized $240 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
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