Atlas Crest Investment Corp. II announced the pricing of its upsized $300 million IPO this evening and its units are expected to begin trading on the NYSE under the symbol “ACII.U” Thursday, February 4.
Atlas Crest Investment Corp. II aims to look within a wide variety of sectors, but focus on particularly attractive investments opportunities in high growth sectors including media, fintech/payments, software and technology enabled services, online gaming/sports betting, healthcare and disruptive consumer. The team will be led by Chairman Ken Moelis and Chief Executive Officer and Director Michael Spellacy.
Total SPAC deal count for 2021 year-to-date is now 104 with $30.2 billion in gross proceeds raised. This offering is expected to close on Friday, February 5.
Cantor Fitzgerald is acting 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 is acting as trustee.
The pace of de-SPACs making it to their lock-up expirations is set to roughly remain level with last month as May’s batch includes five companies and six sponsors set to be released. This group features a high number of Asia-based deals including its headline performer, SunCar Technology (NASDAQ:SDA), which last closed at $7.91. Earlier this...
DT Cloud Star (NASDAQ:DTSQU) filed an S-1 to raise $60 million as the second SPAC by its sponsor team, but this venture would be the 13th foray by underwriter Alliance Global Partners and the first under its new branding as AGP. However, three of those initial filings have subsequently been withdrawn. Nonetheless, AGP is offering...
At the SPAC of Dawn Tuesday brings another packed day in a packed week of potentially market-moving events and individual SPAC actions. The market today will take in the update on US consumer confidence readings as well as the employment cost index and Treasury’s decision on its quarterly refunding plans. An unusually large portion of...
Few target companies have gone through a greater amount of change through the course of their de-SPACing process than digital transformation firm Noventiq, which makes its latest update via a new investor presentation a particularly interesting read. When it initially announced its combination with Corner Growth (NASDAQ:COOL) in May 2023, Noventiq was still listed in...
At the SPAC of Dawn Several sleepy weeks in SPACland come to an end today with five votes, including BITE‘s (NYSE:BITE) completion vote for its combination with plant-based food producer Above Food. Similarly, CONX (NASDAQ:CONX) is to hold its tender offer to complete its acquisition of the DISH Wireless HQ. Two more SPACs are holding...