IPOs

Colbeck Capital's education SPAC Edify Acquisition prices upsized $240 million IPO

Edify Acquisition, a blank check company formed by Colbeck Capital Management targeting the education sector, raised $240 million by offering 24 million units at $10. The company originally filed to raise $200 million. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50.

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The company is led by CEO Peter Ma, a Partner and Managing Director at Colbeck and Executive Vice Chairman of Studio Enterprise, and Chairwoman Susan Wolford, former Vice Chairman of BMO Capital Markets.

The company plans to target the learning and talent management industry, including the education, edtech, workforce development, and human capital management industries.

Edify Acquisition plans to list on the Nasdaq under the symbol EACPU. BMO Capital Markets and B. Riley FBR acted as lead managers on the deal.

The article Colbeck Capital's education SPAC Edify Acquisition prices upsized $240 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.

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