Colonnade Acquisition Corp. (CLA.U) Prices $200M IPO


Colonnade Acquisition Corp. (CLA.U) Prices $200M IPO

Colonnade Acquisition Corp. (CLA.U) announced the pricing of its $200 million IPO this evening and units are expected to begin trading on the NYSE tomorrow, Friday, August 21st, under the symbol NYSE: CLA.U.

The new SPAC aims to find a combination target in the natural resources, energy, real estate, or agriculture sectors. Colonnade is chaired by Joseph S. Sambuco, who is the founder and CEO of the real estate investment company of the same name, while Remy W. Trafelet serves as CEO.

Total SPAC deal count for 2020 year-to-date is now 77 with $30.7 billion in gross proceeds raised. The offering is anticipated to close on Tuesday, August 25, 2020.

BTIG, LLC is acting as the sole book running manager of the offering and I-Bankers Securities, Inc. is acting as co-manager for the offering. White & Case LLP and Ellenoff Grossman & Schole LLP, were Issuer’s Counsel and Underwriter’s Counsel, respectively. Marcum LLP acted as auditor. Continental Stock Transfer & Trust Company is acting as trustee.