News Alert: Spartan Energy Prices an Upsized $480 Million SPAC
by Kristi Marvin on 2018-08-10 at 8:05am

Spartan Energy Acquisition Corp. (SPAQ.U) to Begin Trading Today

Last night, Spartan Energy announced the pricing of their $480 million Apollo sponsored SPAC.  The unit will begin trading this morning under the symbol  SPAQ.U.

Actually, Spartan announced their pricing, not once, but twice.  In what looked to be a slight mix-up with press releases, Business Wire initially announced Spartan’s pricing at $400 million.  To say, that was a surprise would be an understatement with a deal this hot.  Luckily, about an hour later, a corrected press release was put out with a solid 20% increase to $480 million.

It’s August…weird things happen in August.

Congratulations to all and looking forward to the business combination!

Congratulations to the Underwriters – Citigroup and Credit Suisse as joint book-running managers, and Jefferies LLC, RBC Capital Markets, LLC and Tudor, Pickering, Holt & Co. Securities, Inc. as co-managers. Vinson & Elkins L.L.P. and Kirkland & Ellis LLP, were Issuer’s and Underwriter’s Counsel, respectively.

Recent Posts
by Kristi Marvin on 2024-04-20 at 11:45am

Terms Tracker for the Week Ending April 19, 2024 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. Passover and school spring break starts next week, which most likely means a slowdown in SPAC filing activity. Although Churchill IX is now rumored to...

by Nicholas Alan Clayton on 2024-04-19 at 3:00pm

Despite a week of general pull-backs in the market, fintech firm Ibotta (NYSE:IBTA) nonetheless took the dive and had a good week debuting via a traditional IPO in the choppy waters. The company, which provides app-based consumer cashback discounts on purchases, priced its IPO at $88, above its proposed range of $76 to $84, and...

by Nicholas Alan Clayton on 2024-04-19 at 7:53am

At the SPAC of Dawn Happy Friday! SPACInsider has unveiled new presets on SPAC Performance accessible via the Data drop-down to easily sort for the highest and lowest performing active SPACs and de-SPACs. On the de-SPAC side, Vertiv (NYSE:VRT) continues to be well ahead of the pack, logging a 710% return by share price adjusted...

by Nicholas Alan Clayton on 2024-04-18 at 11:50am

AGBA (NASDAQ:AGBA) stock is up over +90% this morning following a +211% premarket spike on news it has signed a definitive agreement to combine with social streaming video platform Triller. AGBA, the company itself, was formed by the $555 million combination between a SPAC of the same name and TAG Companies, a financial services firm...

by Nicholas Alan Clayton on 2024-04-18 at 7:57am

At the SPAC of Dawn Since closing its combination with DHC last month, AI customer engagement firm BEN (NASDAQ:BNAI) has rolled out new partnerships with call center and healthcare clients. And, while it faces a fair bit of competition in the chatbot realm, several high-profile institutions have demonstrated that creating one that provides useful services...

logo

Copyright © 2023 SPACInsider, Inc. All Rights Reserved