(MarketWatch) – Blank-check company Seaport Global Acquisition Corp. SGAMU, has filed to go public, as the special purpose acquisition company (SPAC), sponsored by Seaport Global Asset Management LLC, looks to raise about $125 million.
The company is offering 12.5 million units at $100 per unit. Each unit includes one share of Class A common stock and one-half of one warrant, while each warrant entitles the holder to buy one Class A common stock at $11.50 a share. B. Riley Securities is the sole book-running manager.
The stock is expected to list on the Nasdaq exchange under the ticker symbol “SGAMU.” SPACs raise money through an IPO IPO, +1.45% has soared 83.7% year to date, while the S&P 500 SPX, -0.63% has gained 9.1%.