Act II Global Acquisition Corp. (ACTTU), announced the pricing of their $261 million SPAC IPO tonight and the units are expected to begin trading tomorrow, April 26th, under the symbol Nasdaq: ACTTU.
There was a modest up-size to $261 million from $250 million, so now Act II can presumably exercise a full over-allotment to bring the total gross proceeds to just a hair over $300 million (Hennessy IV and Trine used a similar strategy).
Act II is being led by Irwin D. Simon, as Executive Chairman of the Board and John Carroll, as CEO and Director, and will be focusing on the “Better-For-You” sector within consumer packaged goods, consumables and hospitality.
Total SPAC deal count for 2019 year-to-date is now 18 with $4.043 billion in gross proceeds raised. The offering is expected to close on or about April 30, 2019.
Congratulations to all.
Cantor acted as sole book-running manager.
Ellenoff Grossman & Schole LLP and Kirkland & Ellis LLP, were Issuer’s Counsel and Underwriter’s Counsel, respectively.
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