News Alert: GS Acquisition Holdings Prices $600 Million IPO
Jun 8, 2018 INTEL by Kristi Marvin
Industrials Focused SPAC GS Acquisition Holdings Corp. to Begin Trading Today
This morning, GS Acquisitions Holdings announced the pricing of their $600 million Goldman Sachs sponsored SPAC. The unit will begin trading this morning under the symbol GSAH.U.
Summary of terms are as follows:
- 100% in trust ($10.00 per share)
- $10.00 unit comprised of one share of common stock + one-third of a warrant
- Warrant redemption: cash, cashless or for shares
- 24 months to complete an acquisition (with a focus on the industrials sector)
- Redemption rights: limitation of 15% of the shares sold in the IPO
Congratulations to the Underwriters – Goldman Sachs as book-runner, and Deutsche Bank as co-manager. Skadden, Arps, Slate, Meagher & Flom LLP and Freshfields Bruckhaus Deringer US LLP, were Issuer’s and Underwriter’s Counsel, respectively.