Updated August 4, 2020 - 3:54 pm
As the Golden Knights get things done on the ice amid the NHL’s season relaunch, owner Bill Foley is looking to net a win in the financial markets.
According to a filing with the U.S. Securities and Exchange Commission, Foley is looking to raise $1.2 billion via a special purpose acquisition company to be called Foley Trasimene Acquisition Corp. II.
The money would be raised through an initial public offering with 120 million shares and warrants, according to Friday’s filing. For $10, a buyer would receive one share of Class A common stock and one-third of a redeemable warrant.
The blank-check company states in the SEC filing that its business plan is to merge with one or more businesses or entities within two years.
After that merger, public shareholders would be able to redeem their shares.
“We have not selected any 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,” the filing states. “Although we may pursue targets in any industry, we intend to initially focus our search on identifying a prospective target business in financial technology or information and business services.”
Foley wasn’t immediately available for comment. The filing notes he “has over 32 years of experience in industry consolidation” and has a background in the “financial, technology, insurance and services sectors.”
The underwriters for the offering are noted as Credit Suisse and Bank of America Securities.