10X Capital Venture Acquisition Corp announced the pricing of its $175 million IPO this morning and its units are expected to begin trading on the NASDAQ under the symbol “VCVCU” today, Tuesday, November 24.
The new company aims to combine with a target that is a high growth technology and tech-enabled business domestically or abroad in the consumer internet, ecommerce, software, healthcare and financial services industries, as well as other industries which are being disrupted by advances in technology and on technology paradigms including AI, automation, data science, ecommerce and SaaS. 10X is led by Chairman and CEO Hans Thomas alongside Director and COO David Weisburd, CFO Guhan Kandasamy, and President and Head of Capital Markets Oliver Wriedt.
Total SPAC deal count for 2020 year-to-date is now 198 with $68.7 billion in gross proceeds raised. This offering is expected to close on Friday, November 27.
Wells Fargo Securities is acting as the sole book-running manager for the offering. White & Case LLP is serving as Issuer’s Counsel with Ellenoff Grossman & Schole LLP serving as Underwriter’s Counsel. WithumSmith+Brown, PC serves as auditor. Continental Stock Transfer & Trust Company LLC is acting as trustee.