Delwinds Insurance Acquisition Corporation (DWIN.U) Prices $175M IPO


Delwinds Insurance Acquisition Corporation (DWIN.U) Prices $175M IPO

Delwinds Insurance Acquisition Corporation announced the pricing of its $175 million IPO this evening and its units are expected to begin trading on the NYSE under the symbol “DWIN.U” tomorrow, Friday, December 11.

The new company aims to combine with a technology-driven insurance business that is underperforming and could use funds to solve industry-specific capitalization problems. Delwinds is led by CEO and Chairman Andrew J. Poole alongside CFO and Secretary Bryce Quin.

Total SPAC deal count for 2020 year-to-date is now 228 with $76.8 billion in gross proceeds raised. This offering is expected to close on Tuesday, December 15.

RBC Capital Markets LLC and Cantor Fitzgerald & Co. are acting as joint book-running managers for the offering. Ellenoff Grossman & Schole LLP is serving as Issuer’s Counsel with Skadden, Arps, Slate, Meagher & Flom LLP serving as Underwriter’s Counsel. Grant Thornton LLP serves as auditor. Continental Stock Transfer & Trust Company LLC is acting as trustee.