Murphy Canyon Acquisition Corp. (MURFU) Prices $115M IPO


Murphy Canyon Acquisition Corp. (MURFU) Prices $115M IPO

Murphy Canyon Acquisition Corp. announced the pricing of its $115 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “MURFU” Thursday, February 3.

The new SPAC intends to focus its search on businesses in the real estate industry, including construction, homebuilding, real estate owners and operators, arrangers of financing, insurance, and other services for real estate, and adjacent businesses and technologies targeting the real estate space. Murphy Canyon is led by CEO, President and Chairman Jack K. Heilbron, CFO and Treasurer Adam Sragovicz, and CAO Ed Bentzen.

Total SPAC deal count for 2022 year-to-date is now 26. This offering is expected to close on Monday, February 7.

A.G.P./Alliance Global Partners is acting as the sole book-running manager for the offering. The Benchmark Company, LLC is acting as the co-manager for the offering. Sichenzia Ross Ference LLP is serving as Issuer’s Counsel with Manatt, Phelps & Phillips, LLP serving as Underwriter’s Counsel. Marcum LLP serves as auditor. Wilmington Trust is acting as trustee.