M.M. Dillon & Co. (“Dillon”) was engaged as book-running manager for a special purpose acquisition company (“SPAC”) initial public offering of approximately $138,000,000 for Shermen WSC Acquisition Corporation (“Shermen” or the “Company”). Dillon’s CEO, Michiel McCarty, joined the board of Shermen to help direct the strategic direction of the company. Shermen consummated its initial public offering of 20,000,000 units.Each unit consists of one share of common stock and two warrants (each warrant struck at $5.00), and the units were sold at an offering price of $6.00 per unit, generating gross proceeds of $120,000,000 to the Company. A target acquisition was identified and Dillon provided advice leading to a successful closing of the acquisition
About Shermen WSC Acquisition Corporation:
Shermen is a ‘‘blank check’’ company organized for the purpose of acquiring, through a merger, capital stock exchange, asset acquisition or other similar business combination, an operating business in the agriculture industry. Shermen’s CEO, Francis Jenkins, was a long time client of Dillon. His predecessor company was sold to Agrium with the advice of Dillon investment bankers.
About M.M. Dillon & Co.
M.M. Dillon & Co. (formerly CRT Investment Banking LLC) is an employee owned partnership where industry and product specialists collaborate closely to provide creative, idea-driven advice and solutions to its institutional and corporate clients. M.M. Dillon offers public and private financing, M&A advisory and restructuring advisory services. M.M. Dillon’s team of experienced professionals provides execution capabilities for companies across a range of industry sectors. The firm’s senior banking professionals have a minimum of 20 years of experience with major Wall Street firms.