H.I.G. Acquisition Corp. announced the pricing of its $325 million IPO this evening and its units are expected to begin trading on the NYSE under the symbol “HIGA.U” tomorrow, Wednesday, October 21.
The new company aims to combine with a target that has a defensible core business with unrealized strategic upside that can generate compelling risk-adjusted returns. H.I.G. is led by CEO and Director Brian Schwartz, President and Director Rob Wolfson, CFO Timur Akazhanov, and VP and General Counsel Richard Siegel.
Total SPAC deal count for 2020 year-to-date is now 150 with $56.8 billion in gross proceeds raised. This offering is expected to close on Friday, October 23.
Credit Suisse Securities (USA) LLC is serving as lead book-running manager for this offering. Morgan Stanley & Co. LLC and BofA Securities are serving as book-running managers for the offering. Kirkland & Ellis LLP is serving as Issuer’s Counsel with Ropes & Gray LLP serving as Underwriter’s Counsel. WithumSmith+Brown, PC serves as auditor. Continental Stock Transfer & Trust Company LLC is acting as trustee.