Seaport Global Acquisition Corp. (SGAMU) Prices $125M IPO


Seaport Global Acquisition Corp. (SGAMU) Prices $125M IPO

Seaport Global Acquisition Corp. announced the pricing of its $125 million IPO this morning and its units are expected to begin trading on the Nasdaq under the symbol “SGAMU” today, Monday, November 30.

The new company aims to combine with a target valued at $400 million to $1 billion experiencing acute COVID-19 strains, but in a leading industry market position. Seaport Global is led by Chairman and CEO Stephen C. Smith and CFO Michael Ring.

Total SPAC deal count for 2020 year-to-date is now 201 with $69.5 billion in gross proceeds raised. This offering is expected to close on Wednesday, December 2.

B. Riley Securities, Inc. is acting as the book-running manager for the offering. Ellenoff Grossman & Schole LLP is serving as Issuer’s Counsel with White & Case LLP serving as Underwriter’s Counsel. Marcum LLP serves as auditor. Continental Stock Transfer & Trust Company LLC is acting as trustee.