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Class Acceleration Corp. (CLAS.U) Prices $225M IPO

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IPO

Class Acceleration Corp. announced the pricing of its $225 million IPO this evening and its units are expected to begin trading on the NYSE under the symbol “CLAS.U” Friday, January 15.

The new company aims to combine with a business in the media, entertainment or digital leaning spheres in a high-growth market. Class Acceleration is led by Co-Executive Chairmen Joseph E. Parsons and Robert C. Daugherty and CEO Michael T. Moe.

Total SPAC deal count for 2021 year-to-date is now 45 with $12.1 billion in gross proceeds raised. This offering is expected to close on Wednesday, January 20.


Oppenheimer & Co. is acting as the sole book-running manager for this offering. Ellenoff Grossman & Schole LLP is serving as Issuer’s Counsel with Skadden, Arps, Slate, Meagher & Flom LLP serving as Underwriter’s Counsel. Marcum LLP serves as auditor. Continental Stock Transfer & Trust Company LLC is acting as trustee.

Source: https://spacinsider.com/2021/01/14/class-acceleration-corp-prices-225m-ipo/

SPAC Insiders

SPAC IPO Terms Tracker: A Possible Headfake

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Terms Tracker for the Week Ending February 26, 2021 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. The concerns we have raised about supply over the last month may have been premature given there was plenty of demand to soak up the
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Matt Cianci

Source: https://spacinsider.com/2021/02/28/spac-ipo-terms-tracker-week-ending-february-26-2021/

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SPAC Insiders

Ibere Pharmaceuticals (IBER.U) Prices Upsized $120M IPO

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Ibere Pharmaceuticals announced the pricing of its upsized $120 million IPO this morning and its units are expected to begin trading on the NYSE under the symbol “IBER.U,” today, February 26.

The new company aims to combine with an internationally known pharmaceutical brand that can serve as platform for acquiring drugs with expiring patents. Ibere is led by Chairman and CEO Osagie Imasogie, CFO and EVP Lisa Gray and COO and EVP Zoltan Kerekes.

Total SPAC deal count for 2021 year-to-date is now 188. This offering is expected to close on Tuesday, March 2.


Raymond James & Associates, Inc. is acting as the sole book-running manager for the offering. Shearman & Sterling LLP is serving as Issuer’s Counsel with Ellenoff Grossman & Schole LLP serving as Underwriter’s Counsel. Marcum LLP serves as auditor. Continental Stock Transfer & Trust Company is acting as trustee.

Nicholas Alan Clayton

Source: https://spacinsider.com/2021/02/26/ibere-pharmaceuticals-prices-upsized-120m-ipo/

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SPAC Insiders

Desktop Metal (DM) Announces Warrant Redemption

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Desktop Metal, Inc. (NYSE: DM), which completed their combination with Trine Acquisition Corp. in early December 2020, announced this morning that they will be redeeming their remaining outstanding public SPAC warrants for cash exercise.  However, Desktop Metal notes that 75 percent of their outstanding warrants have already been exercised to-date. So today’s announcement is essentially
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Kristi Marvin

Source: https://spacinsider.com/2021/02/26/desktop-metal-dm-announces-warrant-redemption/

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SPAC Insiders

Roth CH Acquisition II Co. (ROCC) Discloses Non-Binding LOI

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Roth CH Acquisition II Co. (NASDAQ:ROCC) filed a 8-K this morning disclosing that it has signed a non-binding letter of intent (LOI) for a potential business combination, but did not provide any other details about the target. This is unusual for a number of reasons. SPACs are not obligated to disclose discussions at this stage,
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To access this post, you must purchase 1 – User: Monthly Plan or 1 – User: Annual Plan ($250/month).

Nicholas Alan Clayton

Source: https://spacinsider.com/2021/02/26/roth-ch-acquisition-ii-co-discloses-non-binding-loi/

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