Industrial Tech Acquisitions, Inc. (ITACU) Prices $75M IPO


Industrial Tech Acquisitions, Inc. (ITACU) Prices $75M IPO

Industrial Tech Acquisitions Inc. announced the pricing of its $75 million IPO tonight and the units are expected to begin trading on the Nasdaq under the symbol “ITACU” tomorrow, Wednesday, September 9th.

This new SPAC will aim to find a combination target in the software, 5G telecommunications, cloud computing, or industrial internet-of-things spaces. It is led by Chairman and CEO E. Scott Crist and CFO R. Greg Smith.

Total SPAC deal count for 2020 year-to-date is now 87 with $34.5 billion in gross proceeds raised. This offering is expected to close on Friday, September 11, 2020.

Maxim Group LLC is acting as sole book-running manager for the IPO. Ellenoff Grossman & Schole LLP serve as Issuer’s Counsel with Loeb & Loeb LLP serving as Underwriter’s Counsel. Marcum LLP serves as auditor. Continental Stock Transfer & Trust Company is acting as trustee.