Reinvent Technology Partners (RTP.U) Prices $600M IPO


Reinvent Technology Partners (RTP.U) Prices $600M IPO

Reinvent Technology Partners announced the pricing of its $600 million IPO this evening and its units are expected to begin trading on the NYSE under the ticker symbol “RTP.U” tomorrow, Thursday, September 17th.

The new SPAC aims to combine with a target in the consumer technology space. Reinvent is led by Co-Lead Directors Reid Hoffman and Mark Pincus alongside CEO, CFO and Director Michael Thompson and Secretary David Cohen.

Total SPAC deal count for 2020 year-to-date is now 101 with $39.85 billion in gross proceeds raised. The offering is anticipated to close on Monday, September 21, 2020.

Morgan Stanley is acting as sole book-running manager. Skadden, Arps, Slate, Meagher & Flom 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.