G Squared Ascend I priced its upsized IPO of 30 million units at a price of $10 per unit for aggregate gross proceeds of $300 million. The upsize represents a 20 percent increase over the 25 million unitis initially planned for the offer.
Units begin trading today on the NYSE under GSQD.U. Each consists of one share of the Company’s Class A common stock and one-fifth of one redeemable warrant. Each whole warrant entitles the holder to purchase one Class A ordinary share at a price of $11.50 per share.
Once the securities comprising the units begin separate trading, stock and warrants will list under GSQD and GSQD.WS, respectively.
The SPAC will concentrate on a business combination in the technology sector, within six verticals: SaaS, Online Marketplaces, Mobility 2.0/Logistics, Fintech/Insurtech, New Age Media and Sustainability.
G Squared is led by Chairman Larry Aschebrook, founder of VC firm G Squared Equity Management. Read more.
