SPACInsider Logo
Pivotal Acquisition Corp. Pricing Their $200 Million SPAC Tonight
by Kristi Marvin on 2019-01-30 at 2:10pm

Pivotal Acquisition Corp. (PVT.U), is now expected to price their $200 million SPAC tonight, rather than tomorrow, January 31st.  The delaying amendments have created all sorts of confusion regarding getting effective in 20 days, but it turns out that it’s NOT 20 days starting the day after you file, but rather, you need to include the actual day you file without the delaying amendment.  This means that Pivotal, which we expected to get effective on January 31st (20 days after their most recent amendment filed January 11th), is actually effective as of today, January 30th.

The tip off to pricing was Pivotal filing both their CERT and 8-a12b this morning, indicating an IPO is imminent.  However, we now have confirmation that yes, that is in fact, the case – Pivotal is indeed pricing tonight.  This means SPACs will be able to get two deals on the board for January – Andina III and now Pivotal – in a market where there are no other IPOs (traditional) getting done for the month.  Plus, we have Gores Metropoulos expected to price $375 million tomorrow, but that IPO will count for February.

Next week, we can expect Wealthbridge, RMG, Monocle and maybe even DiamondPeak to IPO, however, stay tuned for any changes in anticipated pricing schedules for those four.

Summary of terms below:

Pivotal terms 1-30-19

Cantor Fitzgerald is sole book-running manager, BTIG is lead manager.
Graubard Miller and Ellenoff Grossman & Schole LLP, are Issuer’s Counsel and Underwriter’s Counsel, respectively.


Recent Posts
by Marlena Haddad on 2023-03-24 at 5:40pm

Latest Non-Redemption Agreements: ExcelFin Acquisition Corp. ExcelFin Acquisition Corp. (XFIN) Adds Non-Redemption Agreement In connection with the special meeting of stockholders of ExcelFin Acquisition Corp. (NASDAQ:XFIN) to extend its completion deadline from April 25, 2023 to October 25, 2023, the company and its sponsor, ExcelFin SPAC LLC, entered into a non-redemption agreement with an unaffiliated third party....

by Marlena Haddad on 2023-03-24 at 11:33am

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.  Latest SPAC News:  Momentus SPAC backers accused of deliberately engineering a catastrophic deal  Momentus SPAC Backers Accused of Hiding Disastrous Deal’s Flaws A Momentus Inc. (NASDAQ:MNTS) investor sued backers of its blank-check merger with a shell company,...

by Nicholas Alan Clayton on 2023-03-24 at 7:20am

DiamondHead Holdings Corp. (NASDAQ:DHHC) announced in an 8-K this morning that its shareholders approved its combination with Great Southern Homes at a special meeting March 23. Only 109,426 shares were redeemed in the connection with the vote, but DiamondHead has seen about 87% redemptions in total across all previous votes, leaving it with about $43.9...

by Nicholas Alan Clayton on 2023-03-24 at 7:05am

Graf Acquisition Corp. IV (NYSE:GFOR) announced that it has signed a non-binding letter of intent to combine with clinical-stage biopharma company NKGen. This announcement is not a pure teaser as Graf IV is not facing an imminent extension vote and currently has until May 25 on its clock. It does, however, signal something of a...

by Marlena Haddad on 2023-03-23 at 6:08pm

Oak Woods Acquisition Corporation priced its $50 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “OAKU” Friday, March 24, 2023. The SPAC intends to focus on businesses that have their primary operations in the technology-enabled healthcare services industry located in the Asia-pacific region. Oak Woods is led by...

Privacy Policy|Terms Of Use
Copyright © 2023 SPACInsider, Inc. All Rights Reserved