RotenbergMeril served as auditors in connection with Bannix Acquisition Corp.’s $100M pre-IPO SPAC registration statement filing with the SEC
Bannix Acquisition Corp. filed it’s pre-IPO Form S-1 registration statement and prospectus with the Securities and Exchange Commission yesterday, February 19, 2021. Bannix Acquisition, a blank check company is targeting a B2B enterprise software business and is looking to raise up to $100 million in an initial public offering. The Woodcliff Lake, NJ-based company plans to raise $100 million by offering 10 million units at $10. Click here to read the press release as reported on the NASDAQ website.
SPACs are special purpose acquisition companies, essentially shell companies that raise money from investors through stock-market listings. After going public themselves, they look for private companies to buy. Such transactions make those private companies public without having to go through the traditional initial public stock offering process. SPAC’s are also referred to as “blank check companies.”
The total value of SPAC deals completed between 2019 and 2020 jumped 400%, according to data from Dealogic®. And so far this year, the number of completed deals already totals more than half of those done in 2020.
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