Clifton Robbins' SPAC adds Gary Cohn, renames to Cohn Robbins Holdings, and doubles proposed IPO deal size to $600 million
Cohn Robbins Holdings, a blank check company formed by Gary Cohn and ESG investing veteran Clifton Robbins, raised the proposed deal size for its upcoming IPO on Tuesday. The SPAC, formerly known as CSR Acquisition, added Gary Cohn as Co-Chairman and renamed the company and selected a new ticker.
The Wilmington, DE-based company now plans to raise $600 million by offering 60 million units at a price of $10. Units still consist of one share of common stock and one-third of a warrant, exercisable at $11.50. The SPAC had previously filed to offer 30 million units at a range of $10. At the revised deal size, Cohn Robbins Holdings will raise 100% more in proceeds than previously anticipated.
Cohn Robbins Holdings is led by Co-Chairman Gary Cohn, the former President and COO of Goldman Sachs who previously served as the Assistant to the President for Economic Policy and Director of the National Economic Council, Co-Chairman Clifton Robbins, the founder and CEO of Blue Harbour Group, and CFO Charles Kwon, the CFO of Blue Harbour.
Cohn Robbins Holdings was founded in 2020 and plans to list on the NYSE under the symbol CRHC.U. Credit Suisse is the sole bookrunner on the deal.
The article Clifton Robbins' SPAC adds Gary Cohn, renames to Cohn Robbins Holdings, and doubles proposed IPO deal size to $600 million 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.