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Oaktree Acquisition Corp. II (OACB.U) Prices $225M IPO


Oaktree Acquisition Corp. II (OACB.U) Prices $225M IPO

Oaktree Acquisition Corp. II announced the pricing of its $225 million IPO this evening and its units are expected to begin trading on the NYSE under the symbol “OACB.U” tomorrow, Thursday, September 17th.

The company aims to combine with a target in the industrial or consumer spheres. Oaktree II is led by CEO and Director Patrick McCaney, President Alexander Taubman, CFO and Head of M&A Zaid Pardesi. They are joined by COO Mathew Pendo and Chairman John Frank.

Total SPAC deal count for 2020 year-to-date is now 100 with $39.25 billion in gross proceeds raised. The offering is anticipated to close on Monday, September 21, 2020.

Deutsche Bank Securities Inc. and Citigroup Global Markets Inc. are serving as the underwriters for the offering. Kirkland & Ellis LLP and Ropes & Gray 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.