Industrials Focused SPAC GS Acquisition Holdings Corp. to Begin Trading Today

This morning, GS Acquisitions Holdings announced the pricing of their $600 million Goldman Sachs sponsored SPAC.  The unit will begin trading this morning under the symbol  GSAH.U.

Summary of terms are as follows:

• 100% in trust ($10.00 per share)
• $10.00 unit comprised of one share of common stock + one-third of a warrant
• Warrant redemption: cash, cashless or for shares
• 24 months to complete an acquisition (with a focus on the industrials sector)
• Redemption rights:  limitation of 15% of the shares sold in the IPO

Congratulations to the Underwriters – Goldman Sachs as book-runner, and Deutsche Bank as co-manager. Skadden, Arps, Slate, Meagher & Flom LLP and Freshfields Bruckhaus Deringer US LLP, were Issuer’s and Underwriter’s Counsel, respectively.