7GC & Co. Holdings Inc. announced the pricing of its upsized $200 million IPO this evening and its units are expected to begin trading on the Nasdaq under the symbol “VIIAU” Wednesday, December 23.
The new company aims to combine with a scalable technology business valued at $500 million to $1.5 billion. 7GC is led by Chairman, CEO and President Jack Leeney alongside CFO, COO and Secretary Christopher Walsh.
Total SPAC deal count for 2020 year-to-date is now 244 with $81.7 billion in gross proceeds raised. This offering is expected to close on Monday, December 28.
Cantor Fitzgerald & Co. is acting as sole book-running manager for the offering. Ellenoff Grossman & Schole LLP is serving as Issuer’s Counsel with Reed Smith LLP serving as Underwriter’s Counsel. WithumSmith+Brown, PC serves as auditor. Continental Stock Transfer & Trust Company LLC is acting as trustee.
At the SPAC of Dawn Although the market has largely recovered from a negative stretch last week, the roller coaster is tilted back downward for Trump Media (NASDAQ:DJT), which slid -8% yesterday to $32.57 – one of its lowest points since closing with Digital World last month. Other SPACs and de-SPACs are having a more...
Remember the metaverse? Many do not. Meta’s (NASDAQ:META) attempted transition to virtually living and working seemed to mark a trend that went up and down quickly, but one SPAC deal has both survived that roller coaster and may rise with a second. Back in December 2022, Newbury Street (NASDAQ:NBST) announced a $1.85 billion combination with...
At the SPAC of Dawn Tucked into the bill that provides $95 billion in funding to American allies passed by the House this weekend is another measure that is likely to have far more impact on at least one pending deal in SPAC world. It would appear that the timing was fortuitous for TikTok rival...
With the passage this weekend of $95 billion in funding for Ukraine, Israel and Taiwan by the House of Representatives, some focus has gone back towards the defense sector, which has generally had a good year as a whole. But, SPACs have not been as active in defense, despite the fact that companies in the...
At the SPAC of Dawn As April’s sleepy month for SPAC news continues, there is only one special meeting on the docket to consider a SPAC deal approval, that being today’s vote on Pegasus Digital Mobility‘s (NYSE:PGSS) combination with equipment manufacturer Schmid. Three more SPACs are facing extension votes this week, including Pyrophyte (NYSE:PHYT), whose...