Blank check company Calm Seas Acquisition plans to raise $300 million through an IPO: former US Army Pacific Commander as chairman, targeting oil and gas, offshore drilling and shipping

Zhitongcaijing · 2d ago

The Zhitong Finance App learned that Calm Seas Acquisition is a blank check company (blank check company) targeting the oil and gas, offshore drilling, and marine and shipping sectors. The company submitted documents to the US Securities and Exchange Commission (SEC) on Monday to raise up to 300 million US dollars through an IPO.

The company plans to issue 30 million units at $10 per unit and raise $300 million. Each unit consists of one common share and one-third of a share warrant; each complete warrant can purchase one share at a price of $11.50.

Calm Seas Acquisition is led by Chief Executive Officer (CEO) Procter Hug IV, Chief Financial Officer (CFO) Michael Marietta, and Chairman Charles Flynn. Among them, Procter Hug IV is the CEO of the investment company Pilgrim Global Advisors, Michael Marietta is the general counsel of Pilgrim Global Advisors, and Charles Flynn is the former commander of the US Army Pacific Command (U.S. Army Pacific). The SPAC program targets businesses in the oil and gas, offshore drilling, and marine and shipping sectors.

The Reno, Nevada-based company was founded in 2026. It plans to be listed on the New York Stock Exchange (NYSE) under the ticker CSEA.U. Cohen & Company Securities is the sole bookkeeper for this transaction.