Cohn Robbins Holdings Corp. announced the pricing of its upsized $720 million IPO this evening and the units are expected to begin trading on the NYSE under the symbol “CRHC.U” tomorrow, Wednesday, September 9th.
The company has not limited its target search to a specific sector, but aims to combine with a company with a strong position in its respective industry that is considering a strategic change. It is led by co-Chairmen and Directors Clifton S. Robbins and Gary D. Cohn, along with CFO Charles S. Kwon.
Total SPAC deal count for 2020 year-to-date is now 88 with $35.2 billion in gross proceeds raised. This offering is expected to close on Friday, September 11, 2020.
Credit Suisse. is acting as sole bookrunning manager for the offering. Skadden, Arps, Slate, Meagher & Flom LLP serve as Issuer’s Counsel with Kirkland & Ellis LLP serving as Underwriter’s Counsel. WithumSmith+Brown, PC, serves as auditor. Continental Stock Transfer & Trust Company is acting as trustee.
AI has quietly been creeping to the top of the buzziest sectors for SPAC deals, but it’s become host to an even larger arms race in the private funding market. Elon Musk is currently pushing a $6 billion capital raise for his OpenAI competitor xAI at a valuation of $18 billion, according to TechCrunch, while...
At the SPAC of Dawn After a tepid month for SPAC activity in April, prominent teams are already scheduling things to make for some fireworks in early May. AltC (NYSE:ALCC) has already been turning heads as being the rare SPAC to trade significantly above trust value before close, and it has now booked the completion...
At the SPAC of Dawn There are signs that the macro environment for SPACs is gradually improving, but the Screaming Eagle team yesterday announced a non-redemption agreement for its combination with Lionsgate Studios. Such agreements are generally a lever one pulls when a SPAC expects a potentially turbulent closing. All in all, the terms for...
Israeli tech firms have made up an outsized proportion of SPAC activity and despite the ongoing tensions in its region, that dealmaking is continuing unabated. In fact, the SPAC named for the particular mission of taking Israeli firms public through SPACs, Israel Acquisition Corp. (NASDAQ:ISRL) in fact just took one step closer in completing that...
At the SPAC of Dawn Although the market has largely recovered from a negative stretch last week, the roller coaster is tilted back downward for Trump Media (NASDAQ:DJT), which slid -8% yesterday to $32.57 – one of its lowest points since closing with Digital World last month. Other SPACs and de-SPACs are having a more...