Prime Impact Acquisition I announced the pricing of its $300 million IPO this morning and its units are expected to begin trading on the NYSE under the ticker symbol “PIAI.U” today, Thursday, September 10th.
The new SPAC intends to find a combination partner in the medical and industrial technology sectors as well as TMT. Prime Impact will be led by co-CEO Michael Cordano alongside co-CEO, CFO and Director Mark Long.
Total SPAC deal count for 2020 year-to-date is now 91 with $36.2 billion in gross proceeds raised. The offering is anticipated to close on Friday, September 11, 2020.
Goldman Sachs and Bank of America are serving as the joint book-runners for the offering. Goodwin Proctor LLP and David Polk & Wardwell LLP, were Issuer’s Counsel and Underwriter’s Counsel, respectively. WithumSmith+Brown, PC, acted as auditor. Continental Stock Transfer & Trust Company is acting as trustee.
After a quiet June, July is set to be active throughout the month with nine de-SPACs and sponsors coming unlocked from their trading restrictions. This timing is most fortuitous for insurance investor Abacus Life (NASDAQ:ABL) and East Resources, which took it public in 2023, as it is the best performer of this group of companies...
Pyrophyte II (NYSE:PAII.U) has filed for a $175 million SPAC to dig for a natural resources target while the team’s first deal remains pending. The new SPAC is offering investors 1/2 warrants in each unit and it will have 24 months to complete a business combination without asking shareholders for an extension. It is the...
At the SPAC of Dawn The last day of the quarter is to play host to a pair of shareholder votes and a possible pricing of Indigo‘s (NASDAQ:INACU) $100 million IPO. This week is also to play host to fresh jobs numbers just before the long July 4 weekend. Black Hawk (NASDAQ:BKHA) was also one...
Terms Tracker for the Week Ending June 27, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. June continued its late-month rally with another five SPAC IPOs pricing this week, bringing the monthly total to 10 and the 2025 year-to-date count to...
Blueport (NASDAQ:BPACU) has filed for a $69 million SPAC that would bring another first-time sponsor team to market. The new SPAC is offering investors a right to a 1/6 share in each unit and it will have 15 months to complete a business combination. It is underwritten by Alliance Global Partners and will not be...