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Blank check company Pivotal Investment II files for a $200 million IPO


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Pivotal Investment Corporation II, a blank check company founded by New York Islanders co-owner Jonathan Ledecky, filed on Friday with the SEC to raise up to $200 million in an initial public offering.

The New York,NY-based company plans to raise $200 million by offering 20 million units at a price of $10. At $10, Pivotal Investment II would command a market value of $250 million. Each unit consists of one share of common stock and one-third of one warrant to purchase a share of common stock at $11.50 per share.

Pivotal Investment II was founded in 2019 and plans to list on the NYSE under the symbol PIC.U. Cantor Fitzgerald and BTIG are the joint bookrunners on the deal. No pricing terms were disclosed.

The article Blank check company Pivotal Investment II files for a $200 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO) , Renaissance International ETF (symbol: IPOS) , or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.





This article appears in: News Headlines , IPOs



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