Oaktree Acquisition Corp. Prices $175M IPO

SPAC pricing

Oaktree Acquisition Corp. Prices $175M IPO

Oaktree Acquisition Corp. (OAC.U), announced the pricing of their $175 million SPAC IPO this evening. Oaktree’s units are expected to begin trading Thursday, July 18th, under the symbol NYSE: OAC.U.

Oaktree will focus on the industrial and consumer sectors and will be led by John Frank, as Chairman, and Patrick McCaney, as CEO and Director. Alexander Taubman will be CFO and President.

Total SPAC deal count for 2019 year-to-date is now 32 with $7.58 billion in gross proceeds raised. The offering is expected to close on July 22, 2019.

Congratulations to all.

Credit Suisse and Deutsche Bank acted as joint book-running managers. Kirkland & Ellis LLP and Ropes & Gray LLP, were Issuer’s Counsel and Underwriter’s Counsel, respectively.