Power & Digital Infrastructure Acquisition Corp. announced the pricing of its $300 million IPO this evening and its units are expected to begin trading on the Nasdaq under the symbol “XPDIU” Wednesday, February 10.
The new company aims to combine with a business that is driving the transition of the electrical power grid transition towards supply and demand optimization. Power & Digital is led by Chairman Theodore J. Brombach, CEO Patrick C. Eilers and CFO James P. Nygaard.
Total SPAC deal count for 2021 year-to-date is now 132 with $39.5 billion in gross proceeds raised. This offering is expected to close on Friday, February 12.
Barclays Capital Inc. and BofA Securities Inc. are acting as the joint book-running managers for the offering. Kirkland & Ellis LLP is serving as Issuer’s Counsel with Vinson & Elkins LLP serving as Underwriter’s Counsel. Marcum LLP serves as auditor. Continental Stock Transfer & Trust Company is acting as trustee.