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Ascendant Digital Acquisition Corp. (ACND.U) Prices Upsized $360M IPO


Ascendant Digital Acquisition Corp. (ACND.U) Prices Upsized $360M IPO

Jul 23, 2020 INTEL by Kristi Marvin

Ascendant Digital Acquisition Corp. (ACND.U), announced the pricing of their upsized $360 million SPAC IPO this evening and the units are expected to begin trading tomorrow, July 24th, under the symbol NYSE: ACND.U.

Ascendant Digital intends to focus on businesses that operate within the “Attention Economy,” which includes various converging sectors, such as interactive entertainment, film/television, music, comics, board games, books, esports, live events and other forms of consumer entertainment, enabling services and technologies. Ascendant Digital will be led by Mark Gerhard, as Chief Executive Officer and Director.

Total SPAC deal count for 2020 year-to-date is now 50 with $19.002 billion in gross proceeds raised. The offering is anticipated to close on Tuesday, July 28, 2020.

UBS Investment Bank is acting as the sole book-running manager of the offering. Odeon Capital Group, LLC is acting as lead manager of the offering. White & Case LLP and Ropes & Gray LLP were issuer’s counsel and underwriter’s counsel, respectively. WithumSmith+Brown, PC, acted as auditor.