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South Mountain Merger Corp. Upsizes and Prices $225M IPO


South Mountain Merger Corp. Upsizes and Prices $225M IPO

Jun 19, 2019 INTEL by Kristi Marvin

South Mountain Merger Corp. (SMMCU), announced the pricing of their surprise upsized $225 million SPAC IPO this evening.  South Mountain’s units are expected to begin trading tomorrow, June 20th, under the symbol Nasdaq: SMMCU.

South Mountain is being led by Charles Bernicker, the former CFO of CardConnect, which merged with FinTech Acquisition Corp I (another SPAC), back in July of 2016.  The combined company was ultimately bought by First Data in 2017 for $15.00 a share.

Total SPAC deal count for 2019 year-to-date is now 27 with $6.16 billion in gross proceeds raised. The offering is expected to close on June 24, 2019.

Congratulations to all.

Citigroup acted as sole book-running manager.
Paul, Weiss, Rifkind, Wharton & Garrison LLP and Kirkland & Ellis LLP were Issuer’s Counsel and Underwriter’s Counsel, respectively.