Switchback II Corp. announced the pricing of its upsized $275 million IPO yesterday evening and its units are expected to begin trading on the Nasdaq under the symbol “SWBK.U” Friday, January 8.
The new company aims to combine with target business in the energy technology arena targeting industries that require sustainable and innovative solutions to decarbonize in order to meet critical emission reduction objectives. Switchback II is led by Co-CEOs Scott McNeill and Jim Mutrie.
Total SPAC deal count for 2021 year-to-date is now 27 with $6.6 billion in gross proceeds raised. This offering is expected to close on Tuesday, January 12.
Goldman Sachs & Co. LLC is acting as sole book-running manager. Vinson & Elkins L.L.P. is serving as Issuer’s Counsel with Latham & Watkins LLP serving as Underwriter’s Counsel. WithumSmith+Brown, PC serves as auditor. Continental Stock Transfer & Trust Company LLC is acting as trustee.
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