Avondale Acquisition, an oil and gas SPAC formed by the former CEO of Chesapeake Energy, withdrew its plans for an initial public offering on Thursday. It had filed to raise $200 million by offering 20 million shares at a price of $10.
The Oklahoma City, OK-based blank check company was formed in 2015 by Aubrey McClendon, who died in a car accident in March 2016. The SPAC had planned to list on the Nasdaq under the symbol AACOU. Maxim Group LLC and Ladenburg Thalmann & Co. were set to be the joint bookrunners on the deal.
Blogger Comment
Facebook Comment