Lately, a variety of veteran dealmakers such as Nelson Peltz have pursued blank check IPOs. Basically, these are shell corporations that raise money to purchase companies.
Well, today there has been another filing: MAFS Acquisition. And, the operator is Ronald Perelman, who wants to raise a cool $500 million.
Perelman got his start on Wall Street in the late 1970s. Since then, he has bought companies such as AlliedBarton Security Services, Harland Clarke, Scantron, Panavision and, of course, Revlon.
As for MAFS, Perelman plans to take an active role, such as with identifying, negotiating and structuring deals. What's more, he will be focusing on targets that have proven track records, strong free cash flows, and top management teams.
The lead underwriter on the IPO is Citigroup (NYSE: C).
You can find the prospectus at the SEC website. Also, if you want to find other recent IPO information, visit DealProfiles.com.
Tom Taulli is the author of various books, including The Complete M&A Handbook
