IPOs

TMT SPAC Spartacus Acquisition prices downsized $200 million IPO at $10

Spartacus Acquisition, a blank check company targeting a TMT business, raised $200 million by offering 20 million units at $10. The company offered 5 million fewer units than anticipated. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50.

The company is led by CEO and Chairman Peter Aquino, the former CEO and Chairman of RCN, Internap, and Primus Telecommunications, and CFO Igor Volshteyn, who currently serves as the Interim COO and President of CCUR Holdings. The SPAC plans on leveraging its management team's experience and target the telecommunications, media, and technology (TMT) industry.

Spartacus Acquisition plans to list on the Nasdaq under the symbol TMTSU. B. Riley FBR acted as sole bookrunner on the deal.

The article TMT SPAC Spartacus Acquisition prices downsized $200 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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