Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
A new SPAC called Broadstone Acquisition Corp comes from an experienced European leadership team.
The Leadership Team: The leadership team of Hugh Osmond, Marc Jonas, and Edward Hawkes has 20 years of working together. The company is behind four large European companies, including two members of the FTSE 100, representing the largest companies in the United Kingdom.
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From 1993 to 2016, the group had an internal rate of return of 48% and a 3.5 times multiple on exited investments, according to the filing.
The team led the 1993 acquisition of Pizza Express, which grew from 68 to 367 locations. In 2001, when Osmund left, the chain was the largest restaurant group in the United Kingdom.
Management led a $3.5 billion acquisition of Punch Group. Through a series of acquisitions and consolidation, the company became the largest pub company in the United Kingdom.
Phoenix Group was founded by the team in 2005. Through several mergers and acquisitions, the company is now the largest life and pensions consolidator in Europe.
The Offering: Broadstone Acquisition Corp will offer 30 million shares at a price of $10 each, raising $300 million. Each share will include a half warrant to purchase a share at $11.50. Shares will list on the NYSE with the symbol BSN.
Broadstone Acquisition Corp: The management group plans on focusing on a fundamentally sound business in Europe that may be stressed due to the pandemic.
The company believes it has strengths to find the right company to acquire. Among the strengths are proven team right skill set, success as entrepreneurs and operators, extensive transaction network and relationships, and investing experience.
A targeted company will be fundamentally strong but undervalued, can have added operational value, has clear growth prospects, has had historic constraints, and has a strong management team.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.