CC Neuberger Principal Holdings I (PCPL.U), announced the pricing of their upsized $360 million SPAC IPO this evening and the units are expected to begin trading tomorrow, Friday, April 24th, under the symbol NYSE: PCPL.U.
CC Neuberger is being co-sponsored by Chinh Chu’s CC Capital Partners, LLC, a private investment firm, of which Mr. Chu is the Founder and Senior Managing Partner, and Neuberger Berman’s Opportunistic Capital Solutions Master Fund LP (“NBOKS”). Additionally, CC Neuberger will be led by Chinh Chu, as CEO and Director.
Total SPAC deal count for 2020 year-to-date is now 16 with $4.97 billion in gross proceeds raised. The offering is anticipated to close on Tuesday, April 28, 2020.
Goldman Sachs, BofA Securities, and UBS Investment Bank acted as joint book-running managers for the offering. Nomura is acting as co-manager for the offering. Kirkland & Ellis LLP and Davis Polk & Wardwell LLP, were Issuer’s Counsel and Underwriter’s Counsel, respectively. WithumSmith+Brown, PC acted as auditor.
Metals Acquisition Corp. (NYSE:MTAL) announced in an 8-K this afternoon that it has entered into a silver stream equity subscription agreement, redemption backstop, and copper stream equity subscription agreement to support its combination with Glencore’s (LON:GLEN) CSA Copper Mine. On March 20, the SPAC entered into a silver stream subscription agreement with Osisko Bermuda pursuant to...
Stratim Cloud (NASDAQ:SCAQ) has entered into a definitive agreement to combine with oil and gas services provider Force Pressure at an enterprise value of $287.5 million, or 3.8x its 2022E adjusted EBITDA. The Seguin, Texas-based company provides drilling equipment and services primarily to the Eagle Ford, Permian and Haynesville basins in Texas and surrounding states....
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Fighting for digital services market share in developed markets can be uphill sledding, but what if what you are offering has no legacy competitor to replace? This week, we speak with Greg Moran, Co-Founder and CEO of Zoomcar. Zoomcar runs a ride-sharing marketplace in India, where traditional short-term rental options are rare and it announced a $456...
Digital World (NASDAQ:DWAC) announced this morning that it has replaced CEO Patrick Orlando with Eric Swider, who is stepping up from a director position. The move is the just the latest installment in a long, winding road that Digital World has taken since announcing a business combination with Trump Media and Technology Group (TMTG) all...