Atlantic Street Acquisition Corp announced the pricing of its $250 million IPO this evening and its units are expected to begin trading on the NYSE under the symbol “ASAQ.U” tomorrow, Friday, October 2nd. Additionally, Atlantic Street has been renamed Atlantic Avenue Acquisition Corp.
This new company aims to combine with a target that is enhancing the traditional business model of its industry with technology and has opportunities for growth via add-ons. Atlantic Avenue is led by Chairman and CEO Ashok Nayyar, Co-President and Secretary David Gelobter, Co-President Michael Zimmerman, and CFO Barry Best.
Total SPAC deal count for 2020 year-to-date is now 121 with $45.5 billion in gross proceeds raised. This offering is expected to close on Tuesday, October 6.
Cowen and Company, LLC is serving as the lead active book-running manager and as representative of the underwriters. Robert W. Baird & Co. Incorporated is serving as passive book-running manager for the offering. Weil, Gotshal & Manges LLP serve as Issuer’s Counsel with Ellenoff Grossman & Schole LLP serving as Underwriter’s Counsel. WithumSmith+Brown, PC, serves as auditor. Continental Stock Transfer & Trust Company LLC is acting as trustee.