Qell Acquisition Corp. announced the pricing of its upsized $330 million IPO this evening and its units are expected to begin trading on the Nasdaq under the symbol “QELLU” today, Wednesday, September 30.
This new company aims to combine with a target in the next-generation mobility, transportation or sustainable industrial technology sectors. Qell is led by CEO and Director Barry Engle and CFO and Director Sam Gabbita.
Total SPAC deal count for 2020 year-to-date is now 116 with $43.9 billion in gross proceeds raised. This offering is expected to close on Friday, October 2.
J.P. Morgan and Barclays are acting as joint book running managers in the offering. Goodwin Procter LLP is serving as Issuer’s Counsel with Davis Polk & Wardwell LLP serving as Underwriter’s Counsel. WithumSmith+Brown, PC, serves as auditor. Continental Stock Transfer & Trust Company LLC is acting as trustee.