Act II Global Acquisition Corp. Pricing Their $250 Million SPAC Tonight

IPO Ahead

Act II Global Acquisition Corp. Pricing Their $250 Million SPAC Tonight

Apr 25, 2019 INTEL by Kristi Marvin

Act II Global Acquisition Corp. (ACTTU), filed their 8-a12b yesterday and is getting ready to price their $250 million “Better-for-you” focused SPAC tonight.  Act II most recently dropped J.P. Morgan as its lead underwriter giving Cantor the chance to sole book-run.  It’s a strong look for Cantor, but I doubt J.P. Morgan is hand-wringing.  JPM is currently #2 in Bloomberg’s US Equity Offerings League Tables year-to-date so this is a minor blip for them.

Having said that, SPACs are a pretty particular product and it’s not that surprising that a team would want an experienced SPAC underwriter to lead and Cantor has certainly been a profilic player in the space.  Stay tuned for any surprise up-sizes or changes to terms.

Summary of terms below:

Act II transaction terms 4-25-19

 

 

Leave a Reply