Genesis Park Acquisition Corp, a Houston-based blank check company, has completed its initial public offering. It raised $150 million by offering 15 million units at $10 each. The company had originally planned to raise $200 million.
The company is led by chairman David Siegel, who is also Executive Chairman of an ultra-low-cost airline carrier, Sun Country Airlines. Together with CEO Paul Hobby (the Founding Partner of PE firm Genesis Park LP), they are seeking a business in the aviation sector with an enterprise value of between $500 million and $1 billion. The CFO is Jonathan Baliff, former CFO and CEO at Bristow.
The company will be listed on the NYSE. It is the sixth Houston-area blank check company to list this year You can see the complete list of public companies in the Houston-area here.