DALLAS: CBRE Acquisition Holdings Inc. has announced the launch of its initial public offering of 35 million SAIL (Stakeholder Aligned Initial Listing) securities.
The company has applied to have its SAIL securities approved for listing on the New York Stock Exchange under the symbol “CBAH.U.” Each SAIL security will consist of one share of the company’s Class A common stock and one-fourth of one redeemable warrant.
CBRE Acquisition Holdings Inc. is a newly organized blank-check company formed by CBRE Acquisition Sponsor, LLC, a subsidiary of CBRE Group, Inc., for the purpose of entering into a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses or assets. CBRE Group, Inc. is a global commercial real estate services and investment firm.
Morgan Stanley is serving as the underwriter for the offering. The company intends to grant the underwriter a 45-day option to purchase up to an additional 5,250,000 SAIL securities at the initial public offering price, less the underwriting discount, to cover over-allotments, if any.