IPOs

Moelis & Company's SPAC Atlas Crest Investment prices $500 million IPO at $10

Atlas Crest Investment, a blank check company formed by Moelis & Company, raised $500 million by offering 50 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50.

The company is led by Chairman Ken Moelis, founder and Managing Director of Moelis & Company, and CEO Michael Spellacy, a former Senior Managing Director at Accenture and Global Industry Leader of Accenture Capital Markets. While the company has not selected a target industry, it plans to leverage its management team's experience and target businesses that will benefit from its strategic and operational value add.

Atlas Crest Investment Corp. plans to list on the NYSE under the symbol ACIC.U. Cantor Fitzgerald acted as sole bookrunner on the deal.

The article Moelis & Company's SPAC Atlas Crest Investment prices $500 million IPO at $10 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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