Avanti Acquisition Corp. (AVAN.U) Prices Upsized $600M IPO


Avanti Acquisition Corp. (AVAN.U) Prices Upsized $600M IPO

Avanti Acquisition Corp. announced the pricing of its upsized $600 million IPO this evening and the units are expected to begin trading on the NYSE under the symbol “AVAN.U” tomorrow, Friday, October 2nd.

The new company aims to combine with a European company with a strong US nexus and international reach. Avanti is led by Chairman and CEO Nassef Sawiris and CFO Johann Dumas.

Total SPAC deal count for 2020 year-to-date is now 123 with $46.5 billion in gross proceeds raised. This offering is expected to close on Tuesday, October 6.

Citigroup Global Markets Inc. and Goldman Sachs & Co. LLC are serving as the joint book-running managers for the offering. Kirkland & Ellis LLP serves as Issuer’s Counsel with Skadden, Arps, Slate, Meagher & Flom LLP serving as Underwriter’s Counsel. WithumSmith+Brown, PC serves as auditor. Continental Stock Transfer & Trust Company LLC is acting as trustee.