CITIC Capital Acquisition Corp. (CCAC.U), announced the pricing of their upsized $240 million SPAC IPO this evening and the units are expected to begin trading tomorrow, Tuesday, February 11th, under the symbol NYSE: CCAC.U.
CITIC Capital will be focusing on companies in the energy efficiency, clean technology and sustainability sectors, with a more specific focus on companies in China, as well as other markets in Asia and beyond. CITIC Capital will be led by Fanglu Wang, as Chief Executive Officer and Director, and Eric Chan, as Chief Financial Officer and Director, both currently holding senior management positions at CITIC, this SPAC’s sponsor.
Total SPAC deal count for 2020 year-to-date is now 4 with $1.137 billion in gross proceeds raised. The offering is anticipated to close on Thursday, February 13, 2020.
Congratulations to all.
Credit Suisse acted as sole book-running manager for the offering. Winston & Strawn LLP and Davis Polk & Wardwell LLP were Issuer’s Counsel and Underwriter’s Counsel, respectively. WithumSmith+Brown, PC acted as auditor.