Empower Ltd. (EMPW.U) Prices $250M IPO


Empower Ltd. (EMPW.U) Prices $250M IPO

Empower Ltd. announced the pricing of its $250 million IPO this morning and the units are expected to begin trading on the NYSE under the symbol “EMPW.U” today, Wednesday, October 7.

The Company intends to focus on U.S. businesses in the consumer products, retail, services, experiences and related sectors, which complement the broad experience of the Company’s management in consumer-facing enterprises at the forefront of evolving preferences, tastes, experiences and values.  Empower will be led by Matthew Rubel, as Executive Chairman and Chief Executive Officer, and Graham Clempson, as President and Director.

Total SPAC deal count for 2020 year-to-date is now 133 with $50.9 billion in gross proceeds raised. This offering is expected to close on Friday, October 9.

J.P. Morgan and Jefferies acted as joint book running managers for the offering. Ellenoff Grossman & Schole LLP is serving as Issuer’s Counsel with Kirkland & Ellis LLP serving as Underwriter’s Counsel. Marcum LLP serves as auditor. Continental Stock Transfer & Trust Company LLC is acting as trustee.