G Squared Ascend II priced its IPO of 12.5 million units at $10 each.
The units are expected to begin trading today on the NYSE under GSQB.U. Each consists of one share of the Company’s Class A ordinary shares and one-third of one redeemable warrant; whole warrants exercisable at $11.50. Once the securities comprising the units begin trading separately, shares and warrants will list under GSQB and GSQB.W, respectively.
UBS Investment Bank is sole book-running manager for the offering. The underwriter has a 45-day option to purchase up to an additional 1.87 million units to cover any over-allotments.
The SPAC intends to focus on opportunities that fall within what it calls six core megatrends: Software-as-a-Service, Online Marketplaces, Mobility 2.0/Logistics, Fintech/Insurtech, New Age Media, and/or Sustainability.
G Squared Ascend II was founded by Larry Aschebrook, who also founded G Squared Equity Management, as well as CEO and Director Ward Davis. Read more.
