Atlas Crest Investment Corp. announced the pricing of its $500 million IPO this evening and its units are expected to begin trading on the NYSE under the symbol “ACIC.U” tomorrow, Wednesday, October 28.
The new company aims to combine with a target in a high-growth sector or one that possesses disruptive technology and stable free cashflow. Atlas Crest is led by Chairman Kenneth Moelis, CEO and Director Michael Spellacy, COO and Head of Corporate Development Taylor Rettig, and CFO Christopher Callesano.
Total SPAC deal count for 2020 year-to-date is now 164 with $60.56 billion in gross proceeds raised. This offering is expected to close on Friday, October 30.
Cantor Fitzgerald & Co. acted as the sole book-running manager for the offering. Ellenoff Grossman & Schole LLP is serving as Issuer’s Counsel with Kirkland & Ellis LLP serving as Underwriter’s Counsel. Marcum LLP serves as auditor. Continental Stock Transfer & Trust Company LLC is acting as trustee.