Switchback Energy Prices $300M IPO
Switchback Energy Acquisition Corp. (SBE.U), announced the pricing of their $300 million SPAC IPO this evening. Switchback Energy’s units are expected to begin trading Friday, July 26th, under the symbol NYSE: SBE.U.
Switchback Energy will focus on the energy industry in North America and will be led by Scott McNeill as CEO, CFO and Director. Jim Mutrie will act as Chief Commercial Officer, General Counsel, Secretary and Director.
Total SPAC deal count for 2019 year-to-date is now 35 with $8.43 billion in gross proceeds raised. The offering is expected to close on July 30, 2019.
Congratulations to all.
Goldman Sachs and Citigroup acted as joint senior book-running managers and Credit Suisse is acting as book running manager. RBC Capital Markets and Tudor, Pickering, Holt & Co. are acting as senior co-managers for the proposed offering. Vinson & Elkins LLP and Weil, and Gotshal & Manges LLP, were Issuer’s Counsel and Underwriter’s Counsel, respectively.