Power & Digital Infrastructure Acquisition II Corp. announced the pricing of its $250 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “XPDBU” Friday, December 10.
The new SPAC intends to pursue opportunities that are driving the electrical power grid transition, both on the supply and demand side, as well as seeking co-optimization opportunities between supply and demand, of the electrical grid in the United States. Power & Digital Infrastructure II is led by Chairman of the Board Theodore J. Brombach, Chief Executive Officer Patrick C. Eilers, Chief Financial Officer James P. Nygaard Jr., Vice President John B. Sexton, and General Counsel and Secretary John P. McGarrity.
Total SPAC deal count for 2021 year-to-date is now 589. This offering is expected to close on Tuesday, December 14.
Barclays and BofA Securities are acting as the joint book-running managers of the offering. Kirkland & Ellis LLP is serving as Issuer’s Counsel with Vinson & Elkins L.L.P. serving as Underwriter’s Counsel. Marcum LLP serves as auditor. Continental Stock Transfer & Trust Company is acting as trustee.
Israeli tech firms have made up an outsized proportion of SPAC activity and despite the ongoing tensions in its region, that dealmaking is continuing unabated. In fact, the SPAC named for the particular mission of taking Israeli firms public through SPACs, Israel Acquisition Corp. (NASDAQ:ISRL) in fact just took one step closer in completing that...
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...