Blank check company Calm Seas Acquisition plans to raise $300 million through an IPO: former U.S. Army Pacific commander to serve as chairman, targeting the oil and gas, offshore drilling, and shipping sectors.

Calm Seas Acquisition, a blank check company targeting the oil and gas, offshore drilling, and maritime and shipping sectors, filed with the U.S. Securities and Exchange Commission (SEC) on Monday to raise up to $300 million through an IPO. The company plans to offer 30 million units at $10 per unit to raise $300 million. Each unit consists of one share of common stock and one-third of a warrant; each whole warrant entitles the holder to purchase one share at $11.50. Calm Seas Acquisition is led by CEO Procter Hug IV, CFO Michael Marietta, and Chairman Charles Flynn. Procter Hug IV is the CEO of investment firm Pilgrim Global Advisors, Michael Marietta is the general counsel of Pilgrim Global Advisors, and Charles Flynn is the former commander of the U.S. Army Pacific. The SPAC plans to target businesses in the oil and gas, offshore drilling, and maritime and shipping sectors. The Reno, Nevada-based company was founded in 2026. It plans to list on the New York Stock Exchange (NYSE) under the ticker symbol CSEA.U. Cohen & Company Securities is the sole book-running manager for the offering.