Broadstone Acquisition Corp. (BSN.U) Prices $300M IPO

SPAC pricing

Broadstone Acquisition Corp. (BSN.U) Prices $300M IPO

Broadstone Acquisition Corp. announced the pricing of its $300 million IPO this morning and the units are expected to begin trading on the NYSE under the symbol “BSN.U” today, Friday, September 11th.

This new company aims to find a combination target in the UK or other European markets that has been adversely affected by the COVID-19 outbreak but is otherwise fundamentally healthy. It is led by Chairman and Director Hugh Osmond, CEO and Director Marc Jonas and CFO and Director Edward Hawkes.

Total SPAC deal count for 2020 year-to-date is now 94 with $37.3 billion in gross proceeds raised. This offering is expected to close on Tuesday, September 15, 2020.

Citigroup Global Markets Inc. is acting as the sole book-running manager for the offering.  Winston & Strawn LLP serve as Issuer’s Counsel with Davis Polk & Wardwell LLP serving as Underwriter’s Counsel. WithumSmith+Brown, PC serves as auditor. Continental Stock Transfer & Trust Company LLC is acting as trustee.