Prime Impact Acquisition I (PIAI.U) Prices $300M IPO


Prime Impact Acquisition I (PIAI.U) Prices $300M IPO

Prime Impact Acquisition I announced the pricing of its $300 million IPO this morning and its units are expected to begin trading on the NYSE under the ticker symbol “PIAI.U” today, Thursday, September 10th.

The new SPAC intends to find a combination partner in the medical and industrial technology sectors as well as TMT. Prime Impact will be led by co-CEO Michael Cordano alongside co-CEO, CFO and Director Mark Long.

Total SPAC deal count for 2020 year-to-date is now 91 with $36.2 billion in gross proceeds raised. The offering is anticipated to close on Friday, September 11, 2020.

Goldman Sachs and Bank of America are serving as the joint book-runners for the offering. Goodwin Proctor LLP and David Polk & Wardwell LLP, were Issuer’s Counsel and Underwriter’s Counsel, respectively. WithumSmith+Brown, PC, acted as auditor. Continental Stock Transfer & Trust Company is acting as trustee.