Tri-Artisan Acquisition Corp. has filed to come public via IPO. It lists some 25 million units, with each unit being one share of common stock at $10.00 and an equal number of warrants with a $7.50 strike price. Underwriters have an over-allotment of 3.75 million shares. JPMorgan is listed as the lead underwriter and Lazard Capital Markets is co-manager. No proposed stock ticker was seen, but it intends to list on Amex.
The company is a SPAC or blank check company. It says it won’t key on a specific prospective target industry, although it will intend to focus efforts on U.S. as well as foreign companies in the global consumer products, services and retailing industries.
Here is its self-described management team: Our management team consists of three Managing Directors of Tri-Artisan, Gerald H. Cromack, Rohit Manocha and David E. Libowitz. Other than the three year period from 1999 to 2001, Messrs. Cromack and Manocha have worked together in various capacities since 1987, when they were employed at Lehman Brothers Holdings Inc. Mr. Cromack has 26 years of experience originating and executing mergers, acquisitions, restructurings and private equity investing transactions. Mr. Manocha has 25 years of experience executing and advising in mergers and acquisitions, with particular emphasis on sourcing, financing and exiting private equity transactions. Mr. Libowitz, who previously served as a founder and managing partner of Trail’s End Partners, LLC and prior to that served in various roles at Warburg Pincus LLC for 11 years, including five years as a partner, has 18 years of experience in the financial services industry, with particular emphasis on leading transactions and investing in private equity transactions.
This company was just formed on January 10, 2008 and has no operations, hence the SPAC or blank check description.
Jon C. Ogg
February 25, 2008