Recharge Acquisition Corp. (RCHGU) Prices $200M IPO


Recharge Acquisition Corp. (RCHGU) Prices $200M IPO

Recharge Acquisition Corp. announced the pricing of its $200 million IPO this evening and the units are expected to begin trading on the Nasdaq under the symbol “RCHGU” tomorrow, Thursday, October 1st.

The new company brings significant management experience in retail convenience store chains and aims to combine with a target with a recognizable brand and stable free cash flow. Recharge is led by Chairman Rajesh Soin, CEO and Director Anthony Kenney and CFO Michael Gearhardt.

Total SPAC deal count for 2020 year-to-date is now 118 with $44.57 billion in gross proceeds raised. This offering is expected to close on Monday, October 5.

Raymond James & Associates, Inc. and EarlyBirdCapital, Inc. are acting as the joint book running managers for the offering. Ellenoff Grossman & Schole LLP serves as Issuer’s Counsel with Greenberg Traurig LLP serving as Underwriter’s Counsel. Marcum LLP serves as auditor. Continental Stock Transfer & Trust Company LLC is acting as trustee.