A former UBS AG executive has filed to raise $375 million in an initial public offering of stock, with plans to acquire an operating company that offers financial or business services.
Under “blank check” IPO rules, Stamford-based BPW Acquisition Corp. would have two years to complete a deal.
The company was founded by Michael Martin, who previously was vice chairman and managing director for UBS Investment Bank, where he led the financial institutions group. Fellow founding partner, Joseph Perella, previously was vice chairman of Morgan Stanley.
Prospect Acquisition Corp., another Stamford blank-check company seeking to buy a financial firm, priced in mid-November its IPO at $250 million. Founder David Minella previously managed the Liechtenstein royal family”™s investments.
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