Cerberus Telecom 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 “CTAC.U” tomorrow, Thursday, October 22.
The new company intends to target ICT companies that benefit from the transformational, long-term impacts of capital deployment in the 5G stack. Cerberus Telecom is led by Chairman Frank Bruno and Timothy M. Donahue as Chief Executive Officer.
Total SPAC deal count for 2020 year-to-date is now 156 with $58.26 billion in gross proceeds raised. This offering is expected to close on Monday, October 26.
Well Fargo Securities LLC is acting as the sole book-running manager for the offering. Kirkland & Ellis LLP 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.