Energy-Focused Blank-Check Cos. Hunt For Targets

By Tom Zanki (March 6, 2019, 8:33 PM EST) -- Flush with cash from recent initial public offerings, a bevy of blank-check companies are hunting to acquire energy-related businesses, potentially providing an alternative way of going public for a beaten-down sector producing fewer IPOs on its own.

Nine energy-focused blank-check companies that have raised nearly $2.9 billion through IPOs since 2017 have yet to land acquisitions, according to Dealogic. Some of these blank-check companies, which are shell entities that raise money to buy private companies and take them public, completed IPOs nearly two years ago and are near the end of their search deadline.

At the same time, many existing energy...

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