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Sustainable Opportunities Acquisition Corp. Prices $300 million IPO


Sustainable Opportunities Acquisition Corp. Prices $300 million IPO

Sustainable Opportunities Acquisition Corp. (SOAC.U), announced the pricing of their $300 million SPAC IPO this evening and the units are expected to begin trading tomorrow, Wednesday, May 6th, under the symbol NYSE: SOAC.U.

Sustainable Opportunities will be led by Scott Leonard, as CEO and Director, and Scott Honour, as Chairman, and will be focusing on companies with a strong ESG profile, or Environmental, Social and Governance (“ESG”), but specifically companies with existing environmental sustainability practices.

Total SPAC deal count for 2020 year-to-date is now 22 with $6.736 billion in gross proceeds raised. The offering is anticipated to close on Friday, May 8, 2020.

Citigroup is acting as sole book-running managers of the offering. Kirkland & Ellis LLP and Davis Polk & Wardwell LLP were Issuer’s Counsel and Underwriter’s Counsel, respectively. Marcum LLP acted as auditor.