SCVX Corp. (SCVX.U) Prices $200M SPAC IPO

SCVX Corp. (SCVX.U), announced the pricing of their $200 million SPAC IPO this evening and the units are expected to begin trading tomorrow, Friday, January 24th, under the symbol NYSE: SCVX.U.

SCVX Corp. will be focusing on businesses in the cyber-security industry globally, with enterprise valuations in the range of $600 million to $1.5 billion.  SCVX will be led by Michael Doniger, in partnership with Hudson Bay, as Chief Executive Officer and Chairman, and Hank Thomas, of Strategic Cyber Ventures, as Chief Technology Officer and Director.  Chris Ahearn will be Chief Financial Officer and Secretary.

Total SPAC deal count for 2020 year-to-date is now 2 with $600 million in gross proceeds raised. The offering is anticipated to close on Tuesday, January 28, 2020.

Congratulations to all.

Credit Suisse acted as sole book-running manager for the offering.  Skadden, Arps, Slate, Meagher & Flom LLP and Shearman & Sterling LLP were Issuer’s Counsel and Underwriter’s Counsel, respectively.