Pontem Corp. announced the pricing of its upsized $600 million IPO this evening and its units are expected to begin trading on the NYSE under the symbol “PNTM.U” Wednesday, January 13.
The new company aims to combine with established high-quality, disruptive businesses with unique technologies that have sustainable competitive advantages within the industrial sector. Pontem Corp. is led by Chairman and CEO Hubertus Muehlhaeuser and CFO Nina Murphy.
Total SPAC deal count for 2021 year-to-date is now 39 with $10.6 billion in gross proceeds raised. This offering is expected to close on Friday, January 15.
Credit Suisse Securities (USA) LLC and Guggenheim Securities, LLC are serving as joint book-running managers for this offering. Kirkland & Ellis LLP is serving as Issuer’s Counsel with White & Case LLP serving as Underwriter’s Counsel. Marcum LLP serves as auditor. Continental Stock Transfer & Trust Company LLC is acting as trustee.
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Rice II (NYSE: RONI) announced in an 8-K today that its shareholders have approved its combination with energy technology company NET Power with relatively low redemptions. In the end, 21,195,224 shares were redeemed in connection vote, removing 61% of Rice II’s trust. This is the second best result among the 32 deals that have come...
Trajectory Alpha (NYSE:TCOA) announced in an 8-K this morning that it has opted to postpone its June 8 extension vote to June 12 at 10 am ET. The SPAC will use this extra time to engage with shareholders at work to reverse redemption decisions. Trajectory Alpha’s team may still be getting acquainted with some major...
Tracking SPACs and all of their various types of “corporate actions” can be challenging. After all, a SPAC can postpone, adjourn, extend, complete, liquidate early, do a tender offer, and in some cases, one SPAC do all of those actions within its lifespan. Naturally, this can be challenging to manage. More importantly, it can very...
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