OTR Acquisition (OTRAU) is planning to raise $250 million in an initial public offering (IPO) on the week of October 5th, IPO Scoop reports. The company will issue 25,000,000 shares at a price of $10.00 per share.
The company has a market cap of $315 million.
Maxim Group LLC acted as the underwriter for the IPO.
OTR Acquisition provided the following description of their company for its IPO: ” OTR Acquisition Corp. is a newly organized blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses, which we refer to as our initial business combination. While we may pursue an initial business combination target in any business, industry or geographical location, we intend to focus our search on target businesses with enterprise values of approximately $750 million to $2.5 billion. We have not selected any specific business combination target and we have not, nor has anyone on our behalf, initiated any substantive discussions, directly or indirectly, with any business combination target. “.
OTR Acquisition was founded in 2020 and has 0 employees. The company is located at 1395 Brickell Avenue, Suite 800, Miami, FL 33131, US and can be reached via phone at (305) 697-9600.
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