Sound Point Acquisition Corp. I Ltd announced the pricing of its upsized $225 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “SPCMU” Wednesday, March 2.
The new SPAC intends to acquire a business in high-growth sectors within the broadly syndicated loan space such as the IT software, business services and TMT sectors. Sound Point I is led by Chairman and CEO Stephen Ketchum, President Marc Sole, CFO David Grill, and Head of Corporate Development Philip Bartow.
Total SPAC deal count for 2022 year-to-date is now 46. This offering is expected to close on Friday, March 5.
BofA Securities and J.P. Morgan are serving as the joint book-running managers for the offering and AmeriVet Securities and SPC Capital Markets are serving as co-managers for the offering. Gibson, Dunn & Crutcher LLP is serving as Issuer’s Counsel with Morrison & Foerster LLP serving as Underwriter’s Counsel. WithumSmith+Brown, PC serves as an auditor. Continental Stock Transfer & Trust Company is acting as trustee.
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