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IPO Watch: Regalwood's Blank Check


Regalwood Global Energy, a blank check company formed by Carlyle Group, has raised $300 million in its initial public offering.

The company sold 30 million units at $10 a share. The shares will start trading on the NYSE under the ticker symbol "RWGEU."

Citigroup and J.P. Morgan were lead underwriters on the deal.

Regalwood Global Energy fund was created by Carlyle to focuses on investment in oil and gas exploration and production outside the United States.

SEC defines a blank check company as a development stage company that has no specific business plan or purpose or has indicated its business plan is to engage in a merger or acquisition with an unidentified company or companies, other entity, or person.

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