TPG Pace Beneficial Finance Corp. announced the pricing of its $350 million IPO this evening and the units are expected to begin trading on the NYSE under the symbol “TPGY.U” tomorrow, Wednesday, October 7.
This new company aims to merge with a target with the potential for strong environmental, social and governance (ESG) principles and practices. TPG Pace Beneficial Finance is led by Non-Executive Chairman Karl Peterson, President Michael MacDougall, CFO Martin Davidson, and Secretary Eduardo Tamraz.
Total SPAC deal count for 2020 year-to-date is now 131 with $50.2 billion in gross proceeds raised. This offering is expected to close on Friday, October 9.
Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and Barclays Capital Inc. are serving as joint book runners for the offering. Weil, Gotshal & Manges, LLP is serving as Issuer’s Counsel with Ropes & Gray LLP serving as Underwriter’s Counsel. KPMG LLP serves as auditor. Continental Stock Transfer & Trust Company LLC is acting as trustee.