Tortoise Acquisition Corp. II (SNPR.U) Prices Upsized $300M IPO


Tortoise Acquisition Corp. II (SNPR.U) Prices Upsized $300M IPO

Tortoise Acquisition Corp. II announced the pricing of its $300 million IPO tonight and the units are expected to begin trading on the NYSE under the symbol “SNPR.U” tomorrow, Friday, September 11th.

The new SPAC intends to combine with a company working to reduce greenhouse gas emissions and improve sustainability of products and industries. It is led by CEO, President and Chairman Vincent T. Cubbage and CFO and Director Stephen Pang.

Total SPAC deal count for 2020 year-to-date is now 92 with $36.5 billion in gross proceeds raised. This offering is expected to close on Tuesday, September 15, 2020.

Barclays and Goldman Sachs & Co. LLC are acting as joint book-running managers for the offering. AmeriVet Securities, Inc. is acting as co-manager for the offering. Vinson & Elkins LLP serve as Issuer’s Counsel with Skadden, Arps, Slate, Meagher & Flom LLP serving as Underwriter’s Counsel. WithumSmith+Brown, PC serves as auditor. Continental Stock Transfer & Trust Company LLC is acting as trustee.