Crucible Acquisition Corporation announced the pricing of its upsized $225 million IPO this morning and its units are expected to begin trading on the NYSE under the symbol “CRU.U” Tuesday, January 5.
The new company aims to combine with a software technology business with a priority placed on cloud-based, recurring revenue business models. Crucible is led by CEO James M. Lejeal, Chairman Brad Feld and Chief Administrative Officer Jason M. Lynch.
Total SPAC deal count for 2021 year-to-date is now 3 with $525 million in gross proceeds raised. This offering is expected to close on Thursday, January 7.
Credit Suisse Securities (USA) LLC is acting as the sole book-running manager for the offering. Skadden, Arps, Slate, Meagher & Flom LLP is serving as Issuer’s Counsel with Paul, Weiss, Rifkind, Wharton & Garrison LLP serving as Underwriter’s Counsel. WithumSmith+Brown, PC serves as auditor. Continental Stock Transfer & Trust Company LLC is acting as trustee.