News Alert: GS Acquisition Holdings Prices $600 Million IPO

Goldman-SPACs

News Alert: GS Acquisition Holdings Prices $600 Million IPO

Jun 8, 2018 INTEL by SPACInsider

Industrials Focused SPAC GS Acquisition Holdings Corp. to Begin Trading Today

This morning, GS Acquisitions Holdings announced the pricing of their $600 million Goldman Sachs sponsored SPAC.  The unit will begin trading this morning under the symbol  GSAH.U.

Summary of terms are as follows:
  • 100% in trust ($10.00 per share)
  • $10.00 unit comprised of one share of common stock + one-third of a warrant
  • Warrant redemption: cash, cashless or for shares
  • 24 months to complete an acquisition (with a focus on the industrials sector)
  • Redemption rights:  limitation of 15% of the shares sold in the IPO

Congratulations to the Underwriters – Goldman Sachs as book-runner, and Deutsche Bank as co-manager. Skadden, Arps, Slate, Meagher & Flom LLP and Freshfields Bruckhaus Deringer US LLP, were Issuer’s and Underwriter’s Counsel, respectively.

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