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Starboard Value Acquisition Corp. (SVACU) Prices Upsized $360M IPO


Starboard Value Acquisition Corp. (SVACU) Prices Upsized $360M IPO

Sep 10, 2020 INTEL by Kristi Marvin

Starboard Value Acquisition Corp. announced the pricing of its upsized $360 million IPO this morning and its units are expected to begin trading on the Nasdaq under the ticker symbol “SVACU” today, Thursday, September 10th.

Starboard Value Acquisition Corp. will be led by Jeffrey C. Smith, as Chairman, and Martin D. McNulty, Jr., as Chief Executive Officer and Director.

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 Monday, September 14, 2020.

UBS Securities LLC, Stifel, Nicolaus & Company, Incorporated and Cowen and Company, LLC are acting as joint book-running managers for the offering. Akin Gump Strauss Hauer & Feld LLP and Kirkland & Ellis 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.