(Reuters) - A blank-check company led by investment banker Ken Moelis is aiming to raise $500 million in a U.S. initial public offering, the firm said on Friday. The company, Atlas Crest Investment Corp, is looking to offer 50 million units at $10 apiece, according to a filing here. Moelis, the chairman of Atlas Crest, founded investment firm Moelis & Co MC.N in 2007, since when it has advised on about $3.5 trillion of M&A transactions. He has also served as president of UBS Investment Bank. A special purpose acquisition company, or SPAC, is a shell vehicle that raises money in an IPO to buy and then merge with another company, typically within two years. High-profile investors such as Bill Ackman and Michael Klein have raised billions through their SPACs this year. Cantor is the sole book-running manager for Atlas Crest’s offering.