CC Neuberger Principal Holdings I (PCPL.U), announced the pricing of their upsized $360 million SPAC IPO this evening and the units are expected to begin trading tomorrow, Friday, April 24th, under the symbol NYSE: PCPL.U.
CC Neuberger is being co-sponsored by Chinh Chu’s CC Capital Partners, LLC, a private investment firm, of which Mr. Chu is the Founder and Senior Managing Partner, and Neuberger Berman’s Opportunistic Capital Solutions Master Fund LP (“NBOKS”). Additionally, CC Neuberger will be led by Chinh Chu, as CEO and Director.
Total SPAC deal count for 2020 year-to-date is now 16 with $4.97 billion in gross proceeds raised. The offering is anticipated to close on Tuesday, April 28, 2020.
Goldman Sachs, BofA Securities, and UBS Investment Bank acted as joint book-running managers for the offering. Nomura is acting as co-manager for the offering. Kirkland & Ellis LLP and Davis Polk & Wardwell LLP, were Issuer’s Counsel and Underwriter’s Counsel, respectively. WithumSmith+Brown, PC acted as auditor.