IPOs

On the GO: Travel SPAC GO Acquisition prices $500 million IPO at $10

GO Acquisition, a blank check company formed by the founders of GLG Partners and Certares targeting the travel industry, 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 co-CEO Noam Gottesman, the founder and Managing Partner of single-family office TOMS Capital and co-founder of GLG, and co-CEO Gregory O'Hara, the founder of private equity firm and Tripadvisor's controlling shareholder Certares Management. The company plans to target travel-related and travel-adjacent businesses in North America and Europe.

Noam Gottesman previously founded two other London-listed SPACs: Nomad Holdings in 2014, which acquired Europe-based Iglo and Findus in 2015, changed its name to Nomad Foods, and relisted in the US (NYSE: NOMD; +135% from $10 offer price); and Landscape Acquisition Holdings in 2017, which acquired AP Wireless in 2020 and changed its name to Digital Landscape Group (LSE: DLGI; -23%).

GO Acquisition plans to list on the NYSE under the symbol GOAC.U. Credit Suisse, Citi and Morgan Stanley acted as lead managers on the deal.

The article On the GO: Travel SPAC GO Acquisition 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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