Supernova Partners Acquisition Company Inc. announced the pricing of its upsized $350 million IPO this evening and its units are expected to begin trading on the Nasdaq under the symbol “SPNV.U” tomorrow, Wednesday, October 21.
The new company aims to combine with a growing target with a tech-enabled business valued at between $1 billion and $5 billion. Supernova is led by Co-Chairmen Spencer M. Rascoff and Alexander M. Klabin alongside CEO and Director Robert D. Reid and CFO Michael S. Clifton.
Total SPAC deal count for 2020 year-to-date is now 151 with $57.1 billion in gross proceeds raised. This offering is expected to close on Friday, October 23.
J.P. Morgan Securities LLC and Jefferies LLC are acting as book runners for the offering. Latham & Watkins LLP is serving as Issuer’s Counsel with Skadden, Arps, Slate, Meagher & Flom LLP serving as Underwriter’s Counsel. Marcum LLP serves as auditor. Continental Stock Transfer & Trust Company LLC is acting as trustee.