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Apollo-led blank check company Spartan Energy Acquisition set to price $400 million IPO on Thursday, August 9

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Spartan Energy Acquisition, a blank check company led by Apollo executives focused on acquiring an energy business, plans to price its initial public offering during the week of August 6, 2018.

The New York, NY-based plans to raise $400 million by offering 40 million units at a price of $10. Each unit consists of one share of common stock and one third of a warrant to purchase one share of common stock. At $10, Spartan Energy Acquisition would command a market value of $500 million.

Spartan Energy Acquisition was founded in 2018 and plans to list on the NYSE under the symbol SPAQ.U. Citi and Credit Suisse are the joint bookrunners on the deal.

The article Apollo-led blank check company Spartan Energy Acquisition set to price $400 million IPO on Thursday, August 9 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.


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

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