AP Photo/Tony Dejak
- EF Hutton, which is helping former President Donald Trump's social media network go public, is launching a blank-check firm.
- The New York-based investment bank is looking to raise $125 million via its SPAC.
- It is targeting small and midsize firms in the consumer and retail industries, the filings revealed.
EF Hutton, which is helping former President Donald Trump's social media network go public, is launching a SPAC of its own, Bloomberg first reported.
The New York-based investment bank is looking to raise $125 million via its special purpose acquisition company, EF Hutton Acquisition Corp., according to a filing with the US Securities and Exchange Commission.
It is targeting small and midsize firms in the consumer and retail industries, the filings also revealed. The SPAC plans to list on the Nasdaq Global Market under the ticker EFHT.
EF Hutton was listed as the only adviser last month to Digital World Acquisition Corp ., the SPAC that Trump Media & Technology Group is merging with.
EF Hutton in June was brought back to life when Kingswood Capital Markets rebranded . Founded in 1904 in San Francisco, EF Hutton was one of the first brokerages to open in California. It was also the second-largest stock brokerage in the US at one point.
After the stock market crash of 1987, EF Hutton was bought by Shearson Lehman Bros, and the brand eventually was folded into Citigroup.
Via PakApNews