Atlas Crest Investment Corp., a blank check company formed by Moelis & Company, filed on Friday with the SEC to raise up to $500 million in an initial public offering.

The New York, NY-based company plans to raise $500 million by offering 50 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50. At the proposed deal size, Atlas Crest Investment Corp. would command a market value of $625 million.

The company is led by Chairman Ken Moelis, founder and Managing Director of Moelis & Company, and CEO Michael Spellacy, a former Senior Managing Director at Accenture and Global Industry Leader of Accenture Capital Markets. While the company selected a target industry, it plans to leverage its management team’s experience and target businesses that will benefit from its strategic and operational value add.

Atlas Crest Investment Corp. was founded in 2020 and plans to list on the NYSE but has not selected a symbol yet (RC ticker: ACIC.RC). The SPAC filed confidentially on September 16, 2020. Cantor Fitzgerald is sole bookrunner on the deal.

The article Moelis & Company’s SPAC Atlas Crest Investment Corp. files for a $500 million IPO originally appeared on IPO investment manager Renaissance Capital’s web site renaissancecapital.com.

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