ION Acquisition Corp. 1 Ltd. announced the pricing of its $225 million IPO this evening and the units are expected to begin trading on the NYSE under the symbol “IACA.U” tomorrow, Friday, October 2nd.
The new company aims to combine with a target in the Israeli technology sector with competitive moats and room to improve operationally. ION is led by Chairman Jonathan Kolber, CEO and Director Gilad Shany, President and COO Avrom Gilbert, and CFO Anthony Reich.
Total SPAC deal count for 2020 year-to-date is now 124 with $46.8 billion in gross proceeds raised. This offering is expected to close on Tuesday, October 6.
Cowen and Company, LLC is serving as the sole book running manager for the offering. White & Case LLP serves as Issuer’s Counsel with Greenberg Traurig LLP serving as Underwriter’s Counsel. Kost Forer Gabbay & Kasierer serves as auditor. Continental Stock Transfer & Trust Company LLC is acting as trustee.