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Abri SPAC I, Inc. - ASPA

  • Commons

    $9.87

    +0.20%

    ASPA Vol: 0.0

  • Warrants

    $0.58

    -13.39%

    ASPAW Vol: 100.0

  • Units

    $10.26

    -1.21%

    ASPAU Vol: 0.0

Average: 0
Rating Count: 0
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SPAC Stats

Market Cap: 73.5M
Average Volume: 32.4K
52W Range: $9.57 - $10.33
Weekly %: +0.20%
Monthly %: +0.71%
Inst Owners: 0

Info

Target: Searching
Days Since IPO: 109
Unit composition:
Each unit has an offering price of $10.00 and consists of one share of common stock and one redeemable warrant
Trust Size: 5000000.0M

Management

Our Management Team Our Executive Officers Our management team is led by Jeffrey Tirman, our Chairman and Chief Executive Officer, and will be complemented by a broader team of seasoned executives serving as directors and advisors. Jeffrey Tirman, our Chairman of our Board of Directors and Chief Executive Officer, has over 29 years of international investment and corporate management experience, specializing in discrete corporate transactions, senior corporate strategy development and management, turnarounds, and restructurings (operational and financial). Since beginning his career, Mr. Tirman has executed and structured several complex international corporate transactions both on behalf of independent shareholders and as primary shareholder. Mr. Tirman has also negotiated, executed and participated in numerous types of transactions, including public listings, spin-offs, administration proceedings, organizing and leading creditor committees, corporate rationalizations, acquisitions and divestitures, and balance sheet refinancing, as well as analyzing and executing numerous debt and equity investments and capital structure arbitrage positions. Since May 2019, Mr. Tirman has been the CEO and Director of Luxembourg-based KJK Sports S.A. and sits on the boards of several holdings thereunder including Tahe Outdoors based in France and Estonia, Baltic Vairus based in Lithuania, and Leader 96 based in Bulgaria. Since January 2016, Mr. Tirman had been the Chairman and CEO, and still serves as CEO of Elan d.o.o., based in Slovenia, and sits on the boards of several Elan subsidiaries. As of December 31, 2020, these companies employed more than 2,300 people and generated revenues in excess of €250 million. Mr. Tirman is charged with leading the operational and financial restructuring of these companies with the aim of increasing operational efficiency, financial performance and transparency, along with the implementation of standardized business practices and transparent corporate governance principles. Mr. Tirman also founded Abri Advisors Ltd, in Bermuda in 2016 and Abri Advisors (UK) Ltd. in the United Kingdom in 2020 to invest across a variety of asset classes and provide corporate advisory services focused on corporate turnarounds and restructuring. From 2009 through 2014, Mr. Tirman was an adjunct professor of Advanced Corporate Finance for the Master of Sciences in Finance (MScF) program at l’Ecole des Hautes Etudes Commerciales (HEC) in Lausanne, Switzerland, which is a joint effort between l’Université de Lausanne (UNIL), Ecole Polytechnique Fédérale de Lausanne (EPFL) and the Federal Swiss Banking and Finance Institute. From 2011 through 2013, Mr. Tirman was also a guest lecturer on Credit Markets and Credit Risk for the Asset and Wealth Management Executive MBA (AWEMBA) program at the HEC, which was a joint program between University of Lausanne and the Tepper School of Management at Carnegie Mellon University, in Pennsylvania, USA. Mr. Tirman’s lectures focused on risk assessment and analysis. Mr. Tirman holds an MBA in Corporate Tax & Accounting from Tulane University and a BA in Economics & Finance at the University of Arkansas. Nima Montazeri, our Executive Vice President and Chief Financial Officer, has more than 21 years of experience in corporate finance and is experienced in matters related to financing public and private companies. Mr. Montazeri has substantial experience in structuring complex financing instruments and private placements for small and mid-cap public companies, including working with many companies to design and implement operational and management restructuring plans. Mr. Montazeri has advised numerous small and mid-cap companies on growth strategies with a focus on international business development and expansion. Since March 2017, Mr. Montazeri has been a general partner at Brown Stone Capital, LP., focused on investment management. Previously, from 2008 to 2017, Mr., Montazeri was a Managing Director at Floyd Associates, Inc., leading management and financial consulting efforts and investing across multiple asset classes. Since 2012, Mr. Montazeri has been an active money manager focused on equity, fixed income, real estate, and derivative strategies. Mr. Montazeri has assisted several clean energy and automotive solution companies with their capital development efforts by organizing access to strategic sources of capital, as well as advising on new and expanding markets. Furthermore, he played an instrumental role in raising international capital for a California based concentrated solar power company. In 2003 he led an innovative technology transfer program from NASA’s Jet Propulsion Laboratory which resulted in the development of a novel 3 Table of Contents biological detection instrument. Mr. Montazeri has an extensive network of international investment and finance relationships providing access to a variety of transactions and unique investment opportunities, along with a robust capital raising network. Furthermore, Mr. Montazeri is the author of several research reports related to clean energy, defense, counter terrorism, and natural resources. As an economist, he has conducted extensive research on international trade, openness, and the resulting impact on economic growth. Mr. Montazeri’s research covered the analysis of thousands of historical bilateral trade figures in an attempt to discover statistically significant correlations between openness to trade and real economic growth. His research in this field was subsequently published as a book named “Openness and Growth.” Mr. Montazeri holds a BA with honors in Economics from the University of British Columbia and a Master’s in Finance and Accounting from the London School of Economics and Political Science. Peter Bakker, our Vice President of Business Analytics, has more than 30 years of experience in high-yield debt finance, portfolio management, secured lending, and SME trade finance. Mr. Bakker has been a Vice President at Abri Advisors Ltd. since June 2019, focused on corporate evaluation and M&A. From January 2015 to June 2019, Mr. Bakker was the Chief Risk Officer at Channel Capital Advisors, where he oversaw risk management. Mr. Bakker has extensive knowledge of credit analysis and debt service capacity of corporate borrowers; the turnaround/workout/recovery process; financial restructuring; valuation and analysis of highly levered and distressed capital structures; and arranging financing for SME’s. Mr. Bakker’s extensive international experience includes bank lending to finance leveraged buyouts, distressed investing on behalf of institutional clients, advising a leading Canadian hedge fund on its leveraged loan portfolio, and managing risk and workouts for a European FinTech platform providing financing to SME’s. He has also directly led the restructuring of several distressed SME’s, and he has raised significant leveraged acquisition financing and arranged several pre-pack bankruptcies in order to facilitate financial restructuring. Mr. Bakker holds an MBA in Business Administration from the Tuck School of Business at Dartmouth University and an MS in Economics from Erasmus University. Our Directors Nominees We have assembled a group of experienced corporate executives and professional advisors to serve as independent directors on our board, alongside Messrs. Tirman, Montazeri and Bakker. These executives have been chosen as nominees to the board of directors for their extensive sector and C-suite level experience in managing successful companies. In addition to providing us with strategic insights, which include in-depth knowledge of industry dynamics, competition and operational capabilities, our independent director nominees will provide access to their broad networks of operating executives and other resources. John Wepler has agreed to serve on our board of directors as of the closing of this offering. As Chairman and Chief Executive Officer of Marsh, Berry & Co., Inc. and CEO of the wholly-owned FINRA registered broker/dealer MarshBerry Capital, Inc., Mr. Wepler’s leadership and industry experience has benefited many insurance industry professionals in an insurance career spanning nearly three decades. He has been a vital resource in mergers and acquisitions (M&A), having personally advised on more than 250 insurance-related M&A transactions since joining MarshBerry in 1991. Mr. Wepler’s stewardship in the insurance industry has positioned him over the years as a sought-after adviser and chairperson for a range of organizations. He currently serves as an adviser to the board for the Worldwide Broker Network. Previous board positions include the Chairman of the Board of the Midwest Division of the Insurance Industry Charitable Foundation (IICF), the IICF’s national Board of Governors, Independent Insurance Agents & Brokers of New York, the American Bankers Insurance Association and adviser to the Disabled Veterans Insurance Careers (DVIC) Board. Mr. Wepler is an in-demand industry speaker because of his extensive knowledge in organic growth management, valuation enhancement strategies, business planning, perpetuation, financial management and M&A. He is often a keynote speaker at insurance carrier elite meetings, national conferences and leadership forums, including Council of Insurance Agents & Brokers conferences, Chubb Wharton Executive Leadership Training, Selective Executive Symposiums and S&P Global Market Intelligence investment workshops. With extensive experience in all facets of insurance business planning, from organic growth to perpetuation, Mr. Wepler’s skill set allows for designing innovative, progressive strategies that help owners as they work to realize their business goals and life’s dreams. Mr. Wepler holds an MBA from Kent State University and a Bachelor’s degree in Finance from Ohio University. 4 Table of Contents Joseph Schottland has agreed to serve on our board of directors as of the closing of this offering. Mr. Schottland has more than 20 years of experience in investment management and corporate consulting. Mr. Schottland has a demonstrated history of working in the investment management industry with strong entrepreneurship and expertise in corporate valuation, business strategy, management consulting, financial modelling and restructuring. Since February 2021, Mr. Schottland has been the CEO of AMWCO LLC, a residential real estate FinTech platform. Since January 2016, Mr. Schottland has also been a partner at Innovatus Capital Partners, a private equity firm focused on investing in growth, disruptive and distressed opportunities. From 2011 until the end of 2015, Mr. Schottland was a Partner at McKinsey & Co. where he focused on restructuring, strategy and advisory work, including the American Airlines bankruptcy and its subsequent merger with US Airways. From 2004 until 2010, he was a Senior Managing Director at Seabury Group, providing strategic and operational advisory and investment banking services to the aviation and aerospace industries. Prior to that. Mr. Schottland was at Bain & Co. Mr. Schottland holds an MBA in Corporate Strategy and Finance from Columbia Business School and a BS in Economics and American History from New York University. Nadine Watt has agreed to serve on our board of directors as of the closing of this offering. Since December 2019, Ms. Watt has served as the CEO of Watt Companies and has more than 20 years of management and investment experience. She oversees the day-to-day activities and strategic planning for all commercial investment activities including acquisitions, development, and asset management for the Watt Companies’ 6 million-square-foot portfolio. Previously, Ms. Watt served as President of Watt Companies from 2011 to 2019. In 2011, she led a strategic reorganization of the company that moved the firm beyond traditional property management and leasing to a focus on acquisitions and real estate development, as well as joint venture opportunities. Ms. Watt played a key role in launching Watt Companies’ acquisition division — Watt Investment Partners — that now actively invests $60 million in a variety of property types across the Western United States. Throughout her 20-year tenure at Watt Companies, Ms. Watt has touched all facets of the company’s operations, including the development of hundreds of apartment units and multiple shopping centers. Ms. Watt was also responsible for a widely celebrated multi-million-dollar renovation program at Watt Plaza, a 920,000 square foot, Class-A office building in Century City. The building was certified Platinum LEED and was recognized by BOMA International with an award for Outstanding Building of the Year. Ms. Watt is a member of the University of Southern California Board of Governors and the Sol Price School of Public Policy Board of Councilors and serves on the Executive Committee of the Lusk Center for Real Estate as well as the USC Associates Board of Directors. She was the first woman to be named Chair of the Los Angeles Business Council, a position she still holds. She is a Board Member of Visionary Women and the City of Hope Los Angeles Real Estate & Construction Industries Council. Ms. Watt received the Century City Citizen of the Year award in 2017 and the EY Entrepreneur of the Year award in 2018. A graduate of Georgetown University School of Foreign Service, Ms. Watt also holds a Master of Arts degree from the School of Cinematic Arts at the University of Southern California. The past performance of our management team, or advisor or their respective affiliates is not a guarantee either (i) of success with respect to any business combination we may consummate or (ii) that we will be able to identify a suitable candidate for our initial business combination. No member of our management team has had management experience with special purpose acquisition corporations in the past. You should not rely on the historical record of our management team’s or advisor’s or their respective affiliates’ performance as indicative of our future performance. Acquisition Strategy Overview We are a blank check company newly incorporated in Delaware created for the purpose of acquiring, purchasing all or substantially all of the assets of, or engaging in any other similar initial business combination with one or more businesses or entities, which we refer to throughout this prospectus as our initial business combination. We have not identified any potential business combination target and we have not, nor has anyone on our behalf, initiated any discussions, directly or indirectly, with any potential business combination target. We have conducted no operations and have generated no revenues, to date and we will not generate operating revenues until, at the earliest, after we consummate our initial business combination. 5 Table of Contents Although we anticipate acquiring a target business that is an operating business, we are not obligated to do so and may determine instead to merge with or acquire a company with no operating history if the terms of the transaction are determined by us to be favorable to our public stockholders and the target business has a fair market value of at least 80% of the assets held in the trust account (excluding the deferred underwriting commissions and taxes payable, if any, on the income accrued on the trust account) at the time of the agreement to enter into the initial business combination. In such event, investors would not have the benefit of basing the decision on whether to remain with our company following such transaction on the past operations of such target business. Furthermore, in such a situation, many of the acquisition criteria and guidelines set forth in this prospectus may be rendered irrelevant. If we do not obtain a fairness opinion from an independent investment banking firm that is a member of the Financial Industry Regulatory Authority, or FINRA, or from an independent accounting firm, with respect to such criteria, the fair market value of such a target would be determined by our board of directors based upon one or more standards generally accepted by the financial community, such as actual and potential sales, earnings, cash flow and/or book value, discounted cash flow valuation or value of comparable businesses. We can provide no assurances that our management team’s expertise will guarantee a successful initial business combination. Business Strategy We will seek to capitalize on the significant investment, management, and transaction experience of our sponsor, founders, and management team who we believe are well positioned to identify and execute an attractive initial business combination. Our selection process will leverage our network of industry, private equity, and credit relationships, as well as relationships with management of public and private companies, investment bankers, restructuring advisers, attorneys and accountants, which we believe should provide us with a number of business combination opportunities that will benefit from our expertise. We intend to deploy a proactive, thematic sourcing strategy and to focus on companies where we believe the combination of our operating experience, relationships, capital, and capital markets expertise can be catalysts to transform and accelerate the target’s growth and performance. Competitive Strengths We believe that our networks and relationships from sourcing, evaluating, due diligence, and executing transactions and operating businesses will provide us with a significant pipeline of opportunities from which to evaluate and select a business that will benefit from our collective expertise. Our competitive strengths include the following: • Management Operating and Investing Experience. Our management team and directors have significant experience in the insurance, financial, distribution/logistics and manufacturing industries. Our management team will be led by Jeffrey Tirman, our Chairman, CEO and President, by Nima Montazeri, our CFO and board member, and by Peter Bakker, our Vice President of Business Analytics. Combined, they have more than 75 years of experience in executing complex corporate transactions across a variety of industries, coupled with extensive international senior corporate leadership roles. Mr. Tirman’s expertise lies in corporate valuations, financial and operational restructurings, corporate leadership management, and risk assessment and mitigation. He has led more than 8 turnaround and restructuring situations (both financial and operational), and has also analyzed, structured, negotiated and executed more than 100 corporate transactions. Mr. Montazeri, having executed investments in well over 100 mainly public companies, has extensive experience in financing and restructuring small to medium-sized public companies. We believe that Mr. Montazeri’s sector expertise in the technology industry in particular will be a significant competitive advantage for our company. Mr. Bakker has extensive corporate valuation and credit analysis experience across a variety of industries, especially FinTech, and has spent the last decade focused on SME financing and risk management. • Strong Support Team. Our team is comprised of six individuals who have worked together for decades. All team members have either advanced accounting, financial and technical analysis or audit training, and/or extensive legal, corporate, operational and investment management experience, thereby enabling a highly focused approach to idea generation, analysis and transaction execution. Our team members also bring strong relationships with industry operators, consultants and investment bankers, expanding our network of valuable contacts and partners. We believe the well-roundedness of the team, strengthened by strong ties across industry, academia, banking and insurance, along

Institutional Holders

Reporting Date Hedge Fund Shares Held Market Value % of Portfolio Quarterly Change in Shares Ownership in Company
2021-11-16 Beryl Capital Management LLC 101,947 $1,000,000 0.1% 0 1.370%
2021-11-16 CVI Holdings LLC 200,000 $1,960,000 0.1% 0 2.687%
2021-11-15 Rivernorth Capital Management LLC 11,412 $110,000 0.0% 0 0.153%
2021-11-15 Berkley W R Corp 107,702 $1,050,000 0.1% 0 1.447%
2021-11-12 Periscope Capital Inc. 450,000 $4,400,000 0.1% 0 6.045%
2021-11-12 Weiss Asset Management LP 450,000 $4,400,000 0.1% 0 6.045%
2021-11-12 Wolverine Asset Management LLC 127,793 $1,260,000 0.0% 0 1.717%
2021-11-12 K2 Principal Fund L.P. 350,000 $3,420,000 0.3% 0 4.702%
2021-11-10 MMCAP International Inc. SPC 450,000 $4,430,000 0.3% 0 6.045%
2021-11-09 ATW Spac Management LLC 400,000 $3,910,000 0.7% 0 5.373%

SEC Filings

Form Type Form Description Filing Date Document Link
10-Q QUARTERLY REPORT 2021-11-12 https://www.sec.gov/Archives/edgar/data/1854583/000121390021058741/f10q0921_abrispac1.htm
8-K/A AMENDMENT NO. 1 TO FORM 8-K 2021-09-22 https://www.sec.gov/Archives/edgar/data/1854583/000121390021049357/ea147765-8ka1_abrispac1.htm
10-Q QUARTERLY REPORT 2021-09-20 https://www.sec.gov/Archives/edgar/data/1854583/000121390021048862/f10q0621_abrispac1inc.htm
SC 13G FORM SC 13G 2021-09-17 https://www.sec.gov/Archives/edgar/data/1854583/000106299321008719/formsc13g.htm
8-K CURRENT REPORT 2021-09-16 https://www.sec.gov/Archives/edgar/data/1854583/000121390021048330/ea147450-8k_abrispac1.htm
4 2021-09-09 https://www.sec.gov/Archives/edgar/data/1854583/000121390021047116/xslF345X03/ownership.xml
4 2021-09-09 https://www.sec.gov/Archives/edgar/data/1854583/000121390021047114/xslF345X03/ownership.xml
8-K CURRENT REPORT 2021-09-03 https://www.sec.gov/Archives/edgar/data/1854583/000121390021046678/ea146770-8k_abrispac1.htm
SC 13G/A 2021-08-31 https://www.sec.gov/Archives/edgar/data/1854583/000146179021000045/13GA_ASPAU_20210831.htm
8-K CURRENT REPORT 2021-08-27 https://www.sec.gov/Archives/edgar/data/1854583/000121390021045363/ea146499-8k_abrispac1.htm
SC 13D SCHEDULE 13D 2021-08-27 https://www.sec.gov/Archives/edgar/data/1854583/000121390021045343/ea146574-13dabri_abriventur1.htm
SC 13G FORM SC 13G 2021-08-20 https://www.sec.gov/Archives/edgar/data/1854583/000106299321007816/formsc13g.htm
8-K CURRENT REPORT 2021-08-18 https://www.sec.gov/Archives/edgar/data/1854583/000121390021043679/ea145999-8k_abrispac1.htm
SC 13G FORM SC 13G 2021-08-17 https://www.sec.gov/Archives/edgar/data/1854583/000106299321007635/formsc13g.htm
SC 13G/A 2021-08-16 https://www.sec.gov/Archives/edgar/data/1854583/000146179021000037/13G_ASPAU_20210816.htm
8-K CURRENT REPORT 2021-08-13 https://www.sec.gov/Archives/edgar/data/1854583/000121390021042515/ea145765-8k_abrispac1.htm
424B4 PROSPECTUS 2021-08-11 https://www.sec.gov/Archives/edgar/data/1854583/000121390021041691/f424b40821_abrispac1inc.htm
3 OWNERSHIP DOCUMENT 2021-08-11 https://www.sec.gov/Archives/edgar/data/1854583/000121390021041658/xslF345X02/ownership.xml
3 2021-08-11 https://www.sec.gov/Archives/edgar/data/1854583/000121390021041654/xslF345X02/ownership.xml
3 2021-08-11 https://www.sec.gov/Archives/edgar/data/1854583/000121390021041652/xslF345X02/ownership.xml
3 2021-08-11 https://www.sec.gov/Archives/edgar/data/1854583/000121390021041650/xslF345X02/ownership.xml
3 2021-08-11 https://www.sec.gov/Archives/edgar/data/1854583/000121390021041648/xslF345X02/ownership.xml
3 2021-08-11 https://www.sec.gov/Archives/edgar/data/1854583/000121390021041644/xslF345X02/ownership.xml
CERT 2021-08-10 https://www.sec.gov/Archives/edgar/data/1854583/000135445721000912/8A_cert_ASPA.pdf
EFFECT 2021-08-09 https://www.sec.gov/Archives/edgar/data/1854583/999999999521003108/xslEFFECTX01/primary_doc.xml
8-A12B FORM 8-A12B 2021-08-09 https://www.sec.gov/Archives/edgar/data/1854583/000121390021041021/ea145447-8a12b_abrispac1.htm
CORRESP 2021-08-06 https://www.sec.gov/Archives/edgar/data/1854583/000121390021040691/filename1.htm
CORRESP 2021-08-06 https://www.sec.gov/Archives/edgar/data/1854583/000121390021040688/filename1.htm
CORRESP 2021-08-05 https://www.sec.gov/Archives/edgar/data/1854583/000121390021040622/filename1.htm
S-1 REGISTRATION STATEMENT 2021-07-15 https://www.sec.gov/Archives/edgar/data/1854583/000121390021037054/fs12021_abrispac1.htm
UPLOAD 2021-07-06 https://www.sec.gov/Archives/edgar/data/1854583/000000000021008299/filename1.pdf
DRS 2021-06-25 https://www.sec.gov/Archives/edgar/data/1854583/000121390021034104/filename1.htm