Equity Distribution Acquisition Corp. announced the pricing of its upsized $360 million IPO and the units are expected to begin trading on the NYSE under the symbol “EQD.U” today, Wednesday, September 16th.
This new company aims to find a combination target valued at between $1 billion and $1.5 billion in the industrial technology space. It is led by Chairman Sam Zell, CEO and Director Bill Galvin, CFO Philip Tinkler, and Secretary Joseph Miron.
Total SPAC deal count for 2020 year-to-date is now 98 with $38.7 billion in gross proceeds raised. This offering is expected to close on Thursday, September 18, 2020.
Credit Suisse USA LLC is acting as the sole book-running manager for the offering. Kirkland & Ellis LLP serve as Issuer’s Counsel with Davis Polk & Wardwell LLP serving as Underwriter’s Counsel. Marcum LLP serves as auditor. Continental Stock Transfer & Trust Company LLC is acting as trustee.