Andretti Acquisition Corp. announced the pricing of its $200 million IPO and its units are expected to begin trading on the NYSE under the symbol “WNNR.U” Thursday, January 13.
The new SPAC intends to focus on opportunities that can benefit from the iconic Andretti brand name, both inside and outside of the worldwide motorsports platform, and the expertise and ability of its management team to identify, acquire and grow a business in the broadly-defined automotive industry. Andretti is led by Co-CEO and Chairman William J. Sandbrook, Co-CEO Michael M. Andretti, and CFO William M. Brown.
Total SPAC deal count for 2022 year-to-date is now 10. This offering is expected to close on Tuesday, January 18.
RBC Capital Markets, LLC is acting as the sole book-running manager for the offering. Paul, Weiss, Rifkind, Wharton & Garrison 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 is acting as trustee.
Terms Tracker for the Week Ending November 24, 2023 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. This being the Thanksgiving holiday week, we are thankful for a lot of things, but mostly that 2023 is almost over. It’s been a rough...
At the SPAC of Dawn Though perhaps stuffed to the brim, SPAC activity continues this Thanksgiving Friday with votes by Clean Earth and Zalatoris to extend a deadline and amend trust contributions, respectively. At least seven de-SPACs are also reporting earnings today and will do so going into a futures market that is mostly green...
IB Acquisition Corp. submitted its S-1 filing Friday afternoon for a $100 million IPO, coming right on the heels of Bayview Acquisition Corp, which also filed its S-1 that day. IB is also similar to Bayview in that its units do not feature a warrant but include 1 right for 1/10. However, its trust is slightly...
Integrated Wellness (NYSE:WEL) announced in an 8-K filing that it agreed to transfer control of its sponsor to Sriram Associates, which will now take on the SPAC’s financial obligations and may appoint a new team. Sriram is acquiring 2,012,500 promote shares (70%) and 4,795,000 private placement warrants (70%) for the nominal purchase price of $1....
At the SPAC of Dawn So far, seven SPACs have announced their liquidations this week and although some others may choose to use the holiday to quietly disband, this tends to be a positive week for equities in general. Going back to 1961, the S&P 500 has ended the Thanksgiving week with gains three-quarters of...