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East Resources Acquisition Company (ERESU) Prices $300M IPO


East Resources Acquisition Company (ERESU) Prices $300M IPO

Jul 23, 2020 INTEL by Kristi Marvin

East Resources Acquisition Company (ERESU), announced the pricing of their $300 million SPAC IPO this morning and the units are expected to begin trading today, July 23rd, under the symbol Nasdaq: ERESU.

East Resources Acquisition Company will be focused on companies in the energy industry in North America and will be led by Terrence (Terry) M. Pegula, as Chairman, Chief Executive Officer and President.

Total SPAC deal count for 2020 year-to-date is now 48 with $18.6 billion in gross proceeds raised. The offering is anticipated to close on Monday, July 27, 2020.

Wells Fargo Securities acted as sole book-running manager of the offering. Latham & Watkins LLP and Davis Polk & Wardwell LLP were issuer’s counsel and underwriter’s counsel, respectively. Marcum LLP acted as auditor.