Milton Capital announced its plans to float on the London Stock Exchange.
The special purpose acquisition company’s intent was to focus on targets in the technology space, including targets in the space, artificial intelligence, machine learning and blockchain technology segments.
“I see this shell as being a particularly exceptional opportunity because it has a transparent capital structure with no founders’ shares, minimal listing expenses, and the exclusively success-based remuneration for directors,” said Malcolm Burne, director of Milton.
“This sets it apart from the typical cash shell and preserves cash, making it a more valuable M&A target. We now look forward to delivering a deal which will create shareholders’ value.”
Admission to trading was expected to occur on or around 4 October under the ticker MII.
Peterhouse Capital, the company’s advisor and broker, had agreed to waive all advisory fees and commission for all funds raised via the initial public offering with the total IPO costs having been capped at £50,000.
