Nebula Caravel Acquisition Corp. (NEBCU) Prices $250M IPO


Nebula Caravel Acquisition Corp. (NEBCU) Prices $250M IPO

Nebula Caravel Acquisition Corp. announced the pricing of its $250 million IPO this evening and its units are expected to begin trading on the Nasdaq under the symbol “NEBCU” tomorrow, Wednesday, December 9.

The new company aims to combine with a high-growth technology target valued at $750 million to $2.5 billion with room for operational improvements. Nebula Caravel is led by CEO, President and Director Adam H. Clamer, Chairman James H. Greene Jr. and CFO and Secretary Rufina A. Adams.

Total SPAC deal count for 2020 year-to-date is now 215 with $73.6 billion in gross proceeds raised. This offering is expected to close on Friday, December 11.

Deutsche Bank Securities Inc., William Blair & Company, L.L.C., and Stifel, Nicolaus & Company, Incorporated are acting as book-running managers; Academy Securities, Inc., Blaylock Van, LLC, Loop Capital Markets LLC, Roberts & Ryan Investments, Inc., and Tigress Financial Partners LLC are acting as co-managers. Ellenoff, Grossman & Schole LLP is serving as Issuer’s Counsel with Davis Polk & Wardwell LLP serving as Underwriter’s Counsel. WithumSmith+Brown serves as auditor. American Stock Transfer & Trust Company LLC is acting as trustee.