News Alert: GS Acquisition Holdings Prices $600 Million IPO
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.
