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Technology SPAC Pivotal Acquisition files for $200 million IPO

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Pivotal Acquisition, a blank check company formed to acquire a logistics technology or cyber security business, filed for its IPO on Wednesday.

The New York, NY-based company plans to raise $200 million by offering 20 million units at a price of $10. Each unit will consist of one share of common stock and one warrant to purchase one share of common stock at $11.50. At $10, Pivotal Acquisition would command a market value of $250 million.

Pivotal Acquisition was founded in 2018 and plans to list on the NYSE under the symbol PVT.U. Cantor Fitzgerald is the sole bookrunner on the deal.

The article Technology SPAC Pivotal Acquisition files for $200 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.


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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