Edtech SPAC Class Acceleration Corp. prices $225 million IPO

Class Acceleration Corp., a blank check company led by venture investor Michael Moe targeting digital education, raised $225 million by offering 22.5 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50.

The SPAC is led by CEO and Director Michael Moe, the founder and CEO of GSV Asset Management and an advisor to GSV Ventures, which has invested in startups like Coursera and Course Hero; Moe previously served as founder and CEO of ThinkEquity Partners from 2001 to 2008. He is joined by Co-Executive Chairman Joseph Parsons, who previously served as an advisor to Bridgewater Associates and led four divisions within GE Capital, and Co-Executive Chairman Robert Daugherty, the Dean of ASU's online business school FSTB.

Class Acceleration Corp. plans to list on the NYSE under the symbol CLAS.U. Oppenheimer & Co. acted as a lead manager on the deal.

The article Edtech SPAC Class Acceleration Corp. prices $225 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.


More Related Articles

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.