Peridot Acquisition Corp. (PDAC.U) Prices $300M IPO


Peridot Acquisition Corp. (PDAC.U) Prices $300M IPO

Peridot Acquisition Corp. announced the pricing of its $300 million IPO this evening and the units are expected to begin trading on the NYSE under the symbol “PDAC.U” tomorrow, Thursday, September 24.

This new company aims to combine with a target valued at between $800 million and $2 billion that is working to address climate change. Peridot is led by CEO and Chairman Alan Levande and CFO Markus Specks.

Total SPAC deal count for 2020 year-to-date is now 110 with $42.1 billion in gross proceeds raised. This offering is expected to close on Monday, September 28.

UBS Securities LLC and Barclays Capital Inc. acted as joint book running managers and Tudor, Pickering, Holt & Co. Securities, LLC acted as co-manager for the offering. Kirkland & Ellis LLP serve as Issuer’s Counsel with Ellenoff Grossman & Shole LLP serving as Underwriter’s Counsel. WithumSmith+Brown, PC, serves as auditor. Continental Stock Transfer & Trust Company LLC is acting as trustee.