Reinvent Technology Partners announced the pricing of its $600 million IPO this evening and its units are expected to begin trading on the NYSE under the ticker symbol “RTP.U” tomorrow, Thursday, September 17th.
The new SPAC aims to combine with a target in the consumer technology space. Reinvent is led by Co-Lead Directors Reid Hoffman and Mark Pincus alongside CEO, CFO and Director Michael Thompson and Secretary David Cohen.
Total SPAC deal count for 2020 year-to-date is now 101 with $39.85 billion in gross proceeds raised. The offering is anticipated to close on Monday, September 21, 2020.
Morgan Stanley is acting as sole book-running manager. Skadden, Arps, Slate, Meagher & Flom LLP and Ropes & Gray LLP, were Issuer’s Counsel and Underwriter’s Counsel, respectively. WithumSmith+Brown, PC acted as auditor. Continental Stock Transfer & Trust Company is acting as trustee.
Globa Terra Acquisition Corporation (NASDAQ:GTERU) has filed for a $152.2 million SPAC to find an agriculture or food-tech target company The new SPAC is overfunded to 100.5% and is set to have both a 3/4 warrant and right to a 1/20 share in each of its units. This vies for the most investor-friendly unit coverage of...
EGH Acquisition Corp. (NASDAQ:EGHAU) has filed for a $150 million SPAC to continue the work of the Tortoise serial SPAC team under a fresh name. The new SPAC is not overfunded and will have one right to a 1/10 share in each of its units. It will have 24 months to initially close a business...
Yorkville Acquisition Corp. has filed for a $150 million SPAC to bring the sponsor’s experience in SPAC investing to a search for a technology, media or telecom target. The new SPAC is overfunded to 100.5% with $10.05 per unit in trust initially. Each unit is set to contain a 1/3 share and it will have...
At the SPAC of Dawn This week’s trading comes to an end later today as the US exchanges will observe the Good Friday holiday (but the SEC’s EDGAR filing system will not). Dow futures ahead of this session remain in the red although both the S&P 500 and Nasdaq look to make up some losses...
This week, we return to another episode from 2021, when we spoke with Will Marshall, Co-founder and CEO of Planet Labs (NYSE:PL). Planet provides data services drawn from its fleet of about 200 satellites that generate a complete image of the earth’s surface every day. It just celebrated its first quarter of EBITDA profitability, but at...