Blue Water Acquisition Corp. IV, a Greenwich-based special purpose acquisition company, is seeking to become a publicly traded company.
The company has publicly filed a registration statement with the U.S. Securities and Exchange Commission (SEC) for a proposed $125 million initial public offering.
The company, sponsored by Chairman and CEO Joseph Hernandez, plans to focus on companies in the biotechnology, health care and technology sectors.
Blue Water is the fourth SPAC launched by Hernandez under Blue Water Venture Partners LLC.
Blue Water Acquisition Corp. III, another Blue Water SPAC, last month suspended its effort to acquire PDV Holding Inc., the parent company of Citgo Petroleum. The SPAC raised $253 million in its June IPO.
The decision came two months after Blue Water filed an unsolicited $10 billion bid in federal court to purchase PDV Holding, which controls Citgo’s three U.S. refineries and a network of more than 4,000 branded service stations. The proposal also included a $3.2 billion cash-or-stock settlement for holders of defaulted PDVSA 2020 bonds.
