Perelman's vehicle, MAFS Acquisition, has tapped Citigroup Global Markets Inc. as an underwriter to help it raise $500 million. After its offering, MAFS will have 24 months to purchase an operating company. Perelman, who plans to take an active role at MAFS, will focus on targets that have proven track records, strong free cash flows and top management teams. However, beyond those vague guidelines, there is no indication of what MAFS will purchase, but based on Perelman's experience with Revlon Inc. and Panavision Inc., a consumer-oriented or media company is a likely target.
Perelman is the chairman of Revlon and investment company MacAndrews & Forbes Holdings Inc.
Other veteran dealmakers recently raising SPACs include leverage buyout veteran Tom Hicks, who raised $552 million earlier in the year. — Matthew Wurtzel
See the MAFS filing via the SEC's Edgar Web site
See TheDeal.com: Court overturns award to Perelman
See The Deal newsweekly: A knack for SPACs
See TheDeal.com: Hicks drums up $552M for SPAC
See The Deal newsweekly: SPAC 2.0
See The Deal newsweekly: Blind, blank, private
See The Deal newsweekly: Blank check, clock ticking
Ron Perelman is joining the growing ranks of dealmakers seeking a blank check or special acquisition corporation, a shell company that issues shares for the purpose of purchasing operating companies within a set time frame or it must liquidate. 
