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.
The pace of de-SPACs making it to their lock-up expirations is set to roughly remain level with last month as May’s batch includes five companies and six sponsors set to be released. This group features a high number of Asia-based deals including its headline performer, SunCar Technology (NASDAQ:SDA), which last closed at $7.91. Earlier this...
DT Cloud Star (NASDAQ:DTSQU) filed an S-1 to raise $60 million as the second SPAC by its sponsor team, but this venture would be the 13th foray by underwriter Alliance Global Partners and the first under its new branding as AGP. However, three of those initial filings have subsequently been withdrawn. Nonetheless, AGP is offering...
At the SPAC of Dawn Tuesday brings another packed day in a packed week of potentially market-moving events and individual SPAC actions. The market today will take in the update on US consumer confidence readings as well as the employment cost index and Treasury’s decision on its quarterly refunding plans. An unusually large portion of...
Few target companies have gone through a greater amount of change through the course of their de-SPACing process than digital transformation firm Noventiq, which makes its latest update via a new investor presentation a particularly interesting read. When it initially announced its combination with Corner Growth (NASDAQ:COOL) in May 2023, Noventiq was still listed in...
At the SPAC of Dawn Several sleepy weeks in SPACland come to an end today with five votes, including BITE‘s (NYSE:BITE) completion vote for its combination with plant-based food producer Above Food. Similarly, CONX (NASDAQ:CONX) is to hold its tender offer to complete its acquisition of the DISH Wireless HQ. Two more SPACs are holding...