Dorchester Capital Acquisition Corp. Prices IPO at $10.00 Per Share (DSPK.U)

Dorchester Capital Acquisition Corp. (DSPK.U) expects to raise $150 million in an initial public offering on the week of August 1st, IPO Scoop reports. The company will issue 15,000,000 shares at $10.00 per share.

Dorchester Capital Acquisition Corp. has a market-cap of $188.5 million.

EarlyBirdCapital, Inc. and Stephens, Inc. acted as the underwriters for the IPO.

Dorchester Capital Acquisition Corp. provided the following description of their company for its IPO: “We intend to focus our search for a target business on opportunities and companies in the energy industry in North America, primarily targeting the U.S. onshore upstream oil and gas sector. (Incorporated in Delaware) We intend to focus on opportunities that capitalize on the expertise and ability of our management team, particularly our CEO Brian Shannon, our CFO John Perri and our board Chairman David Wood, to identify and acquire an operating business in the energy industry in North America, primarily targeting the U.S. onshore upstream oil and gas sector. We will seek to capitalize on the significant experience and network of our management team, our board of directors, and our sponsor to complete our initial business combination. We believe our team’s extensive U.S. shale basin experience with proven achievements in the upstream oil and gas sector creating long-term shareholder value, combined with rebounding global and U.S. oil and gas demand and prices from the lows of the pandemic shock, will provide an opportunity to execute a potentially transformational business combination. Brian P. Shannon, our CEO and a director, is the CEO of Dorchester Energy Management (“DEM”), an affiliate of our sponsor, which provides accounting, asset evaluation, corporate restructuring, engineering, financial reporting, reserve assessment and other related asset management services to the upstream oil and gas industry. Before joining DEM, he was involved as a founder and served in the positions of CEO and president of Black Falcon Energy. These two combined upstream oil and gas energy asset management platforms (DEM and Black Falcon Energy) were responsible for the management of more than 18,000 producing wells, comprising capital investments of over $1.6 billion, located within all of the major U.S. oil and gas shale producing regions. Since 2015, Mr. Shannon and the other members of our management team have evaluated, advised and managed asset revitalization and restructuring projects for six upstream oil and gas companies while evaluating and managing drilling programs on clients’ leaseholds involving over 400 various upstream oil and gas operating partners with their leasehold capital activity participation levels approaching 500 new drilled wells per year. (Note: Dorchester Capital Acquisition Corp. filed its S-1 on June 16, 2022; it filed confidential IPO documents on May 6, 2022.)  “.

Dorchester Capital Acquisition Corp. was founded in 2022 and has 0 employees. The company is located at 210 Park Avenue Suite 3121 Oklahoma City, OK 73102 and can be reached via phone at (405) 252-7320.

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