- CEO
- Morgan Callagy
- Sector
- Financial Services
- Industry
- Shell Companies
- Address
- 14350 Myford Road Irvine CA United States of America 92606
- IPO Date
- Dec 17, 2021
- Business
- Revelstone Capital Acquisition Corp. (RCACU) operates as a blank check company focused on effecting mergers, capital stock exchanges, asset acquisitions, stock purchases, reorganizations, or similar business combinations, primarily targeting businesses in the consumer, media, and technology sectors. The company offers no current operational products or services beyond its special purpose acquisition structure, which includes units comprising one share of Class A common stock and one-half of one redeemable warrant expiring September 15, 2026. Incorporated in Delaware on December 21, 2021, Revelstone Capital Acquisition Corp. maintains its headquarters in Irvine, California, with co-founders and key principals Morgan Callagy and Daniel Neukomm serving in leadership capacities.
Geographic operations remain centered in the United States, with no disclosed international segments or subsidiaries as of the latest available data. The firm raised initial gross proceeds of $165.5 million through its initial public offering in 2022, including the partial exercise of the over-allotment option for 1.5 million additional units at $10.00 each.
Recent developments include the delisting from the NASDAQ Composite Index on February 29, 2024, with shares trading over-the-counter (OTCPK:RCAC), and the receipt of $0.1 million in funding on December 17, 2023. No mergers, acquisitions, partnerships, or new product launches have been announced within the past 1-2 years, positioning the company in a prolonged search phase for a suitable target amid a cooling SPAC market.