A blank-check company backed by an investment adviser associated with Michael Dell and by Gregg Lemkau, the former co-head of investment banking at Goldman Sachs Group Inc, on Friday filed paperwork to raise up to $500 million in its initial public offering.
MSD Acquisition Corp said it is aiming to sell 50 million units at $10 each. (bit.ly/3dv8JHO)
Lemkau, one of the most high-profile dealmakers on Wall Street, will lead the blank-check vehicle and John Phelan, co-founder of MSD Partners, will serve as the chairman.
Lemkau, who was widely seen as a potential candidate for the role of Goldman Sachs’ chief executive officer, retired from the bank last year to join MSD Partners.
Before being tasked to serve as co-head of investment banking in 2017, Lemkau had jointly led Goldman’s mergers and acquisition department for a number of years.
Goldman and Morgan Stanley are the underwriters for MSD Acquisition’s IPO. Reporting by Niket Nishant in Bengaluru; Editing by Maju Samuel