Corner Growth Acquisition Corp. announced the pricing of its upsized $350 million IPO this evening and its units are expected to begin trading on the Nasdaq under the symbol “COOLU” tomorrow, Thursday, December 17.
The new company aims to combine with a nimble, fast-growing technology business in the United States or another developed market. Corner Growth is led by Co-Chairman and CEO Marvin Tien alongside Co-Chairman John Cadeddu, President Jane Batzofin and CFO David Kutcher.
Total SPAC deal count for 2020 year-to-date is now 236 with $79.37 billion in gross proceeds raised. This offering is expected to close on Monday, December 21.
Cantor Fitzgerald & Co. is acting as the sole book-running manager for the offering. Kirkland & Ellis 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 LLC is acting as trustee.
Drugs Made in America II (NASDAQ:DMIIU) has filed for a $500 million SPAC to give the team a fresh vehicle to hunt for targets that has a larger scale and tighter terms than its predecessor. The new SPAC is offering investors one right to a 1/10 share in each unit and no overfunding, while Drugs...
UY Scuti (NASDAQ:UYSC) has entered into a definitive agreement to combine with Chinese auto manufacturer Isdera Group for yet-undisclosed terms. Shanghai-headquartered Isdera produces limited-run, ultra-luxury sports cars. The combined company is expected to trade on the Nasdaq once the deal is completed. Transaction Overview UY Scuti has about $58.1 million in its current trust and...
At the SPAC of Dawn Monday’s busy action nearly doubled July’s count of new business combinations with the three new deals bringing the month’s tally to seven, surpassing the five announced in June and three in May. Those deals came in just before some series of fresh comments by Fed officials that will surely be...
TLGY (OTC:TLGYF) has entered into a definitive agreement to combine with crypto treasury firm StablecoinX at a pro forma $393.6 million equity value. StablecoinX aims to build a sizeable holding of the stablecoin Ethena to gain appreciation on its potential broadening adoption and growth. The combined company is expected to trade on the Nasdaq under...
Dynamix (NASDAQ:DYNX) has signed a definitive agreement to combine with crypto treasury firm The Ether Machine in a deal that is expected to deliver about $1.7 billion in gross proceeds. The Ether Machine aims to use proceeds from the business combination to buy the largest listed position in Ethereum and make continued transactions based on...