Software Acquisition Group Inc. II (SAIIU) Prices $150M IPO


Software Acquisition Group Inc. II (SAIIU) Prices $150M IPO

Software Acquisition Group Inc. announced the pricing of its $150 million IPO this evening and its units are expected to begin trading on the Nasdaq under the ticker symbol “SAIIU” tomorrow, Tuesday, September 15th.

The new SPAC aims to combine with a technology company with an enterprise value between $300 million and $750 million. It is led by Chairman, CEO and CFO Jonathan S. Huberman and Mike Nikzad, VP of Acquisitions and Director.

Total SPAC deal count for 2020 year-to-date is now 96 with $37.9 billion in gross proceeds raised. The offering is anticipated to close on Thursday, September 17, 2020.

B. Riley Securities, Inc. is acting as sole book-running manager of the offering. Ellenoff Grossman & Schole LLP and Kirkland & Ellis LLP, were Issuer’s Counsel and Underwriter’s Counsel, respectively. Marcum LLP acted as auditor. Continental Stock Transfer & Trust Company is acting as trustee.