Star Peak Energy Transition Corp. (STPK.U) prices $350M IPO
Star Peak Energy Transition Corp. (STPK.U), announced the pricing of their $350 million IPO tonight and the units are expected to begin trading tomorrow, Tuesday, August 18th, under the symbol NYSE: STPK.U.
Star Peak Energy Transition intends to focus on companies that improve the efficiency of energy ecosystems and reduce emissions, which they refer to as “energy transition”. The company will be led by Michael C. Morgan, as Chairman of the Board, and Eric Scheyer, as Chief Executive Officer and Director.
Total SPAC deal count for 2020 year-to-date is now 73 with $28.6 billion in gross proceeds raised. The offering is anticipated to close on Thursday, August 20, 2020.
Credit Suisse Securities (USA) LLC and Goldman Sachs & Co. LLC are acting as book running managers for the offering. Kirkland & Ellis serve as Issuer’s Counsel with Davis Polk & Wardwell LLP serving as Underwriter’s Counsel. WithumSmith+Brown, PC, serves as auditor. Continental Stock Transfer & Trust Company is acting as trustee.