Seaport Global Acquisition II Corp. announced the pricing of its $125 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “SGIIU” Thursday, November 17.
The new SPAC intends to focus its search on companies undergoing transformational, transitional, or reorganizational business strategies with an enterprise value of approximately $300 million to $1.0 billion. Seaport Global II is led by Chairman of the Board and Chief Executive Officer Stephen C. Smith, Chief Financial Officer Jay Burnham, Chief Operating Officer Salvatore Bonomo, and Secretary Edward Heim.
Total SPAC deal count for 2021 year-to-date is now 546. This offering is expected to close on Monday, November 19.
B-Riley Securities is acting as the sole book-running manager for the offering. Paul Hastings LLP is serving as Issuer’s Counsel with McDermott Will & Emery 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 December 8, 2023 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. Well that escalated quickly. While last week was quiet, this week was far busier. SPACs saw one IPO start trading after pricing on Friday of...
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Legato Merger Corp. III (NYSE:LEGT) filed for a $175 million IPO yesterday afternoon, becoming the fourth SPAC to file this week. While the other three SPACs that filed their S-1s earlier this week intend to pursue targets in the financial services and biotech industries, Legato III, similar to the earlier Legato SPACs, will focus on...