As expected, the IPO market is slowing down and this week there is only one offering on the schedule. Historically as we head into the mid-to late August period the IPO markets take a break which last three to our weeks. The offering on the books this week is a blank check company out of Washington, DC.
Capitol Investment Corp. IV (NYSE: CIC.U) is the one offering this week which will be looking to raise $350 million. As we stated above, the company which was formed in May of this year is a blank check company looking to invest, acquire, or combine with another business. When a company lists themselves a a blank check offering it means that they are not limited to any particular industry or region for their investment selection. Although founders of the company have seen previous success in the tech space, there is no guarantee they will continue to focus there. Their offering will consist of 35 million shares at a price of $10.